In October 1977, Howard Cosell leaned into his announcer's microphone and intoned to the worldwide audience watching the World Series, "Ladies and gentlemen, the Bronx is burning." He was reporting yet another burning building marring the NYC skyline from his vantage point at Yankee Stadium. His line would eventually become the partial title of a superb book written by Jonathan Mahler: Ladies and Gentlemen, the Bronx Is Burning: 1977, Baseball, Politics, and the Battle for the Soul of a City. more ›

The death of President Ford earlier this week is a reminder of some of New York City's darkest days --namely its flirtation with bankruptcy in 1975. How close was the city to declaring itself insolvent? Very close. Mayor Abe Beame had a statement typed and ready to release on October 17th that read, in part, "...the City of New York has insufficient cash on hand to meet debt obligations due today..." As reported in the Times today the statement went on to prioritize which services the city would pay for, with police, fire, sanitation and public health services leading the list. more ›

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