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Invoking Fiscal Crisis: MORAL DISCOURSE AND POLITICS IN NEW YORK CITY

Invoking Fiscal Crisis: MORAL DISCOURSE AND POLITICS IN NEW YORK CITY Julian Brash In a 2001 article, Mike Davis turns his apocalyptic gaze onto the post– September 11 state of New York City: “All this adds up to a fiscal crisis of a magnitude that may dwarf the notorious municipal meltdown of the mid-1970s. Certainly this is the case in New York City where Felix Rohatyn, the city’s bank-appointed financial overlord from 1973 to 1993, has warned of approaching bankruptcy as City Hall grapples with a projected $6 billion deficit in a $40 billion budget” (Davis 2001, 46). While Davis draws perverse solace from Rohatyn’s words, which confirm his pessimistic outlook, others less likely than Davis to take delight in disaster have used this warning toward their own ends. In a November 2001 piece in the New York Times, Stephen Rattner, until 2000 the vice chairman of the investment firm Lazard Frères (perhaps not coincidentally Rohatyn’s longtime home), gives his opinion of “What New York Will Have to Give Up”: school construction and repair, among other improvements to New York’s decaying infrastructure (Rattner 2001). Another period of pain, austerity, and sacrifice has come upon New Yorkers, Rattner reluctantly proclaims. A 3 October 2001 New York Times editorial agrees, calling http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Social Text Duke University Press

Invoking Fiscal Crisis: MORAL DISCOURSE AND POLITICS IN NEW YORK CITY

Brash, Julian
Social Text , Volume 21 (3 76) – Sep 1, 2003
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Publisher
Duke University Press
Copyright
Copyright 2003 by Duke University Press
ISSN
0164-2472
eISSN
1527-1951
DOI
10.1215/01642472-21-3_76-59
Publisher site
See Article on Publisher Site

Abstract

Julian Brash In a 2001 article, Mike Davis turns his apocalyptic gaze onto the post– September 11 state of New York City: “All this adds up to a fiscal crisis of a magnitude that may dwarf the notorious municipal meltdown of the mid-1970s. Certainly this is the case in New York City where Felix Rohatyn, the city’s bank-appointed financial overlord from 1973 to 1993, has warned of approaching bankruptcy as City Hall grapples with a projected $6 billion deficit in a $40 billion budget” (Davis 2001, 46). While Davis draws perverse solace from Rohatyn’s words, which confirm his pessimistic outlook, others less likely than Davis to take delight in disaster have used this warning toward their own ends. In a November 2001 piece in the New York Times, Stephen Rattner, until 2000 the vice chairman of the investment firm Lazard Frères (perhaps not coincidentally Rohatyn’s longtime home), gives his opinion of “What New York Will Have to Give Up”: school construction and repair, among other improvements to New York’s decaying infrastructure (Rattner 2001). Another period of pain, austerity, and sacrifice has come upon New Yorkers, Rattner reluctantly proclaims. A 3 October 2001 New York Times editorial agrees, calling

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Social Text – Duke University Press

Published: Sep 1, 2003

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