The Moynihan Report "Drop Dead" author Richard E. Farley on power and graft in NYC | The Moynihan Report
Jul 24, 2025
Richard E. Farley, a New York attorney and author of "Drop Dead," dives deep into the world of corruption in NYC. He discusses the impact of greedy politicians, bankers, and lawyers who have historically bankrupted the city. The conversation touches on infamous figures like Roy Cohn, Roger Stone, and Jeffrey Epstein, revealing a tangled web of power and malfeasance. Farley also examines the current economic landscape, the implications of COVID-19, and the alarming trends that suggest history might just be repeating itself.
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NYC's Fiscal Crisis Roots
- New York City's fiscal crises stemmed from rampant corruption and excessive municipal obligations unique to the city.
- The 1975 fiscal crisis was exacerbated by reliance on a tiny top tax base paying most taxes and fiscal mismanagement.
Amazon HQ2 Rejection Impact
- The Amazon HQ2 rejection marked a critical turning point showing political power plays over economic development in NYC.
- This decision discouraged growth and job creation, emphasizing ideology over practical economic policy.
Rent Control Limits Housing Supply
- Rent control policies reduce housing supply by discouraging investment and new construction.
- Increasing rent control worsens housing affordability and creates wealth transfer favoring longtime tenants.
