NYC is faltering — and a bailout from Washington is highly unlikely ...Middle East

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NYC is faltering — and a bailout from Washington is highly unlikely
source : New York Post ( Middle East ) () 100
This month marks the 50th anniversary of the New York City fiscal crisis of 1975.  After years of budgetary and accounting shenanigans, the Standard & Poor’s ratings agency suspended the city’s A rating on its bonds, triggering a cascade of events that nearly resulted in the city filing for bankruptcy and only resolved when President...

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