Richard Ravitch, a longtime civic leader known for his role in steering New York City through the fiscal crisis of the 70s and stabilizing the mass transit system in the 80s, has died at 89.
through the fiscal crisis of the 1970s and stabilizing the mass transit system in the 1980s, has died at 89.Ravitch, a lifelong New Yorker, was called upon frequently over six decades to untangle some of the region's knottiest problems, earning a reputation as a public sector fixer who brought colorful language and strong opinions to budget wrangling and deal-making.
Later that year, Ravitch organized a last-minute rescue package with the city teachers' union that allowed New York City itself to avoid bankruptcy., which operates the largest transit system in the country. To rescue the rapidly disintegrating system, he took on debt to fund repairs and threatened fare hikes in order to secure state funding – a move that surprised and angered Carey.
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