life in and around NYC is insane

Wednesday, January 29, 2014

songbird salutes the 70's: iconic headline




http://inthepastlane.com/wp-content/uploads/2012/10/ford-drop-dead.jpg
























1975.  NYC was in crisis and in need of a bailout by the federal government.  The federal government refused to give financial assitance to the city.  An iconic headline was born.

And you could read all about it for $.15!

Here's the story.





FORD TO CITY: DROP DEAD: President's snub inspired, not discouraged, ex-Gov. Hugh Carey



Felix Rohatyn, the financier who helped Hugh Carey save New York from bankruptcy, was at Elaine's with the governor when someone walked in with the first edition of the next day's Daily News.
FORD TO CITY: DROP DEAD, the paper said, in what became an iconic headline.
It was Oct. 29, 1975, and President Ford had just nixed a bailout for the city.
"I thought it was the end of us," Rohatyn remembered Sunday. "But he thought it was the beginning of winning. He was right."
Carey said the federal snub meant the state would have to step in - and the unions, the banks and City Hall would have to deal.
"There was so much upheaval - he saw the fact that we had to win, there was just no alternative," Rohatyn said.
He said Carey never wavered in his fight to save the city.
"It inspired everyone. He kept on saying, 'Don't worry about my politics, just worry about our finances, we'll win this one,'" Rohatyn said.
"He didn't really care whether you were a Republican or Democrat, labor union or bank - as long as you were committed to the city and survival," he said.
Rohatyn said today's fractious, stubborn Washington pols should look to Carey's example.
"I think they should heed the lesson that you have to ... reach out to other people," he said.
"You can't always say, 'We are going to do it the way (I) want and nothing else.' You just can't live that way."


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