Follow the Money, livre ebook

Reveals the powerful influence of financial elites on New York City's mayors.

Reveals the powerful influence of financial elites on New York City's mayors.

The critical influence of bankers and credit agencies on the mayors of the Big Apple comes to light in this fascinating study. Lynne A. Weikart reveals how financial elites in New York City have exploited recurring fiscal crises and sharply curtailed the range of choices open to mayors in setting priorities and implementing fiscal policy. Despite the appearance of objectivity and neutrality, bankers and bond-rating agencies capitalize on crises to expand their influence and force the city to drastically reduce its spending and payroll, significantly degrading the quality of city services. In the face of enormous pressure to defer programs and compromise promises to constituents, however, committed mayors from Fiorello LaGuardia to Michael Bloomberg have still managed to overcome obstacles and achieve progressive goals.

List of Illustrations
Acknowledgments

1. Introduction

2. Theories about Urban Political Power and Financial Elites

3. LaGuardia and the Great Depression

4. The Prelude to the 1975 Fiscal Crisis

5. Mayor Abe Beame and the 1975 Fiscal Crisis (1974–1978)

6. Mayor Ed Koch and the Unremitting Fiscal Crisis (1978–1990)

7. Mayor David Dinkins and the 1989 Fiscal Crisis (1990–1994)

8. Mayor Rudy Giuliani's First Term and the Ongoing Fiscal Crisis (1994–2002)

9. Mayor Mike Bloomberg after 9/11 (2002–present)

10. Conclusion

Appendix A Expenditure Categories
Appendix B Constant Dollars

Notes
Bibliography
Index