Back Stories: New York City’s Fiscal Crisis

WCBS 880's 50th Anniversary Takes A Look Back

NEW YORK (WCBS 880) – Under Mayor Abraham Beame in the 1970s, New York City fell into a fiscal crisis.

17023600 Back Stories: New York Citys Fiscal Crisis

New York City Mayor Abraham Beame on WCBS. (Credit: WCBS Newsradio 880)

Find more 50th anniversary Back Stories and other special features here, and be sure to follow the station on Facebook and Twitter.

“The joke in Michigan was because of their fiscal crisis, they were going to be foreclosed upon by Ohio and Illinois, and we would go back to having 47 states,” former WCBS reporter Walt Wheeler recalls. “New York City’s fiscal crisis was far worse than that.”

More From CBS New York

CELEBRATING 50 YEARS
Get Our Morning Briefs
Bloomberg WCBS Tri-State Business Index

Watch & Listen LIVE