Bailout of the New York City in 1975
GPTKB entity
Statements (44)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
financial rescue
|
| gptkbp:causedBy |
financial crisis
|
| gptkbp:community_engagement |
controversial
|
| gptkbp:economicActivity |
1970s recession
|
| gptkbp:financials |
municipal bonds
short-term loans state loans federal guarantees |
| gptkbp:historical_significance |
first major municipal bailout in U.S.
|
| gptkbp:history |
collaboration between different government levels
impact of economic downturns on cities importance of fiscal responsibility need for emergency financial planning role of government in municipal finance |
| https://www.w3.org/2000/01/rdf-schema#label |
Bailout of the New York City in 1975
|
| gptkbp:impact |
prevented bankruptcy
|
| gptkbp:influence |
increased state control over city finances
|
| gptkbp:influenced |
high unemployment rates
population decline rising crime rates increased spending decline in tax revenues |
| gptkbp:is_involved_in |
gptkb:State_of_New_York
gptkb:Federal_Government between city and federal officials between city and state officials |
| gptkbp:led_to |
increased federal oversight
changes in municipal finance policy creation_of_the_Municipal_Assistance_Corporation |
| gptkbp:legislation |
Emergency_Financial_Control_Board
New_York_State_Financial_Emergency_Act |
| gptkbp:location |
gptkb:New_York_City
|
| gptkbp:outcome |
restoration of public services
improved credit rating stabilization of city finances |
| gptkbp:resultedIn |
austerity measures
fiscal oversight |
| gptkbp:stakeholders |
business community
labor unions taxpayers city residents bondholders |
| gptkbp:values |
$1.1 billion
|
| gptkbp:year |
1975
|