WASHINGTON - New York Governor Andrew Cuomo on Thursday derided Senate Republican leader Mitch McConnell’s suggestion that states whose finances are depleted by the coronavirus epidemic could declare bankruptcy as a “really dumb” idea and warned that financial markets would tank if that were allowed to happen.
McConnell, whose Republican Party controls the Senate, on Wednesday poured cold water on efforts by Democrats to tap federal coffers to provide assistance to state and local governments. “You wanna see that market fall through the cellar?” Cuomo asked. “Let New York State declare bankruptcy, let Michigan declare bankruptcy, let Illinois declare bankruptcy, let California declare bankruptcy? You will see a collapse of this national economy.Cuomo accused McConnell of “vicious” partisanship for the suggestion, since the states hardest hit by coronavirus lean Democratic. “You want to politically divide this nation now, with all that’s going on?” he asked.
Where is all the money in NY. The government bailed them out of the virus crisis, so they should be able to conduct and manage their own state without assistance . Again where is the money? What did they spend it on?
NYGovCuomo ‘s problem. He did this. We’re not paying for it. Stop being dicks to the people of New York.
The bankruptcy of NY is on NYGovCuomo
The market has tanked before. Its no big deal.
NYGovCuomo NatlGovsAssoc GovLarryHogan Very sad to hear again this old story pushed by Speculators & Shorters to grab USA States Assets in Bankruptcy Court. Last time they even lined up CCP friends billionaires Funds to try to grab US State's Assets,using US Debt as cash.
No shit, so let's keep spending,bailing out states who spend money on the craziest shit,& refuse to be audited?
Kentucky should be abolished
Don't worry, let's sui CCP for the damages
NY bond market.
Americans care only about their cheap markets, just as the Chinese do. No ethics. The USA is so heavily reliant on China - it's so ironically funny.
GOP knows nothing but power. Vote the out! VoteBlue2020
The market won't tank. I'm sure McConnell has a line of billionaires who just can't wait to own their very own state. It's the republican holy grail.
blue states handing out pension money like candy for votes should not be bailed out by tax payers
States can't file bankruptcy. The law doesn't allow it. It took special legislation and a lot of constitutional wrangling so that Puerto Rico could file bankruptcy. And Puerto Rico is not a state. The Bankrutpcy Code doesn't permit states to file bankruptcy. Municipalities, yes.
McConnell fell victim to one of the classic blunders — the most famous of which is, “Never get involved in a land war in Asia” — but only slightly less well-known is this: “Never go against a Sicilian when death is on the line”!
Hahahhahahahahahaa