Word: rohatyn
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...first order of business, then, was balancing the budget. "And we've done it," he says, with pride. "If you recall where we were?no credit, the seasonal loans were running out. Nobody thought we would get the federal loan guarantees we had to have. Not Felix certainly. [Felix Rohatyn, chairman of the Municipal Assistance Corporation created in 1975 to borrow for the city, and New York's chief financial strategist.] I want to give full credit to Felix for his brilliant conception of what had to be done. But I take a lot of credit for getting it done...
Nonetheless, most Detroiters remain confident that Young, who is preparing to run for a third four-year term this fall, will work his financial magic once again. Indeed, Young has hired Felix Rohatyn, the fiscal expert who helped New York escape from bankruptcy, to draft a blueprint to stave off financial disaster. The mayor is also busy trying to attract fresh industries to the city, especially firms specializing in electronics and plastics. Without Young, said Auto Tycoon Henry Ford II, "this city would be dead." His Honor is working hard to keep the patient alive, if just barely...
Critics contend that some of the proposed budget cuts are self-defeating. New York Investment Banker Felix Rohatyn voices a widely shared fear that states and cities will raise taxes to make up for some of the proposed reductions in federal aid for education, health, transit and job-training programs. That would weaken some of the stimulus to the economy provided by cuts in federal income taxes...
...implemented." Koch added, however: "I agree that there has to be a reduction in spending. He has thrown down the challenge; it's very reasonable. If we don't like his proposals, it's up to us to propose alternatives." Said Manhattan Investment Banker Felix Rohatyn: "We should be warned that the pain of the cutbacks is likely to offset our pleasure from tax reductions. But we've got to give Reagan's program a chance, especially because we have no valid alternative...
...Simon Schama and Selwyn Cudjoe, Zbigniew Brzezinski, Ann Ramsay, Nathan Huggins and Pat Sorrento, Al Dershowitz and The Quincy House Two, Shirley Hufstedler and Pere Ubu, Charlie Beckwith, Walter Cronkite, Alex Bok and Alex Haig, Francis Duehay, John Travolta, Sid Vicious and Jim Craig. Theda Skocpol, Lewis Brooks, Felix Rohatyn and Jorge Hankamer, Andy Warhol, Jerry Falwell, James Q. Wilson, Barry Commoner...