New York’s Andrew Cuomo derides state bankruptcy proposal
‘This is one of the really dumb ideas of all time’
23 April 2020 - 23:20
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.
Cuomo, a Democrat, was the latest governor to assail McConnell's suggestion that bankruptcy would be a better route for some states rather than federal aid, as money is doled out to help buffer the ravaged US economy...
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