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: Mortgage Lender Implode-o-MeterU.S. cities need national bailout agency: Rohatyn
By Implode-Explode Heavy Industries
The architect of the 1970s financial rescue of New York City said on Wednesday the federal government should create a powerful national agency to bail out dozens of floundering U.S. cities.
Felix Rohatyn, the chairman of New York's Municipal Assistance Corp. from 1975 to 1993, said at the Reuters Infrastructure Summit that policymakers should look to the Reconstruction Finance Corp. created in 1932 as a model to aid cities and states as they confront their biggest deficits in decades.
Full post as published by Mortgage Lender Implode-o-Meter on May 09, 2009 (boomark / email).
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