Judge Joseph W. Bellacosa delivers the 2006 Judge Hugh R. Jones Memorial Lecture, Oct. 16, 2006, in Albany, New York. (Photo: Dave Oxford for the New York Law Journal) 'Blood Would Flow From the Streets': How a Court of Appeals Ruling Steered New York City Away From Fiscal Disaster in the 1970s
Early in Law Journal columnist Joseph Bellacosa's tenure at the New York Court of Appeals, a destabilizing financial meltdown was brewing back in the Big Apple. Hugh Carey was sworn in as governor was sworn in that year and he took leadership to get the state legislature to pass emergency temporary relief—a moratorium on the payment of New York City's short-term obligations of approximately $5 billion.
November 01, 2023 at 01:08 PM
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Commentary[Editor's note: Joseph W. Bellacosa served the New York Court of Appeals from 1975 to 2000 as chief clerk, counsel, chief administrative judge and associate judge. The Law Journal proudly presents this first entry of an occasional series in which the retired judge shares reflections from his time on the state's high court.]
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