Title | Minister without portfolio |
Start Date | 1975-00-00 |
Is Current | no |
Notes | On October 16 1975, Ravitch was summoned by then-Governor Hugh Carey to convince the head of New York City's teacher's union to buy the bonds that would save the city from default. After a series of tense meetings with the governor, the head of the teacher's union, the head of the New York Central Labor Council, and other local officials, the teacher's union eventually agreed to "make up the city’s hundred-and-fifty-million-dollar shortfall with their pension funds." |