Another Bailout

June 1978
National Review;6/9/1978, Vol. 30 Issue 23, p698
The article reports on the United States government's decision to continue its plan to guarantee $2.5 billion in bailout loans for New York City. It suggests that a loan guarantee just shifts risks from lenders to taxpayers. As the London "Economist" has suggested, if aid to New York City must be provided, it should be as tough as the International Monetary Fund loan to Great Britain.


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