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New York City Economy / Ford Plan #237401

CBS Evening News for Tuesday, Oct 28, 1975
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(Studio) President Ford to outline plan at National Press Club to help New York City when it defaults.
REPORTER: Walter Cronkite

(DC) Mbrs. of New York City firemen and police union came to talk to President Ford about riots if city defaults. [New York Senator James BUCKLEY - says Ford underscores fact that basic services must continue in NYC.] President will propose overhaul of federal bankruptcy law. Changes would allow city to pay for critical needs while courts decide how much of its debt would be paid.
REPORTER: Bob Schieffer

(Studio) Fiscal rescue agency says default could come November 14.
REPORTER: Walter Cronkite

Cronkite, Walter;
Schieffer, Bob

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