The Power Broker: Robert Moses and the Fall of New York

The issuance of public bonds allows governments to raise funds for essential infrastructure projects while spreading the cost over time through debt financing. When managed responsibly, bond financing can be an effective tool for funding public investments and promoting economic development. Moses sells bonds for many of his projects, often using toll revenue from bridges and tunnels to guarantee these bonds on behalf of banks and investors.

New York City is divided into five boroughs: Manhattan, Brooklyn, Queens, The Bronx, and Staten Island. The borough system provides a framework for local governance and community engagement, allowing residents to participate in decision-making processes that impact their neighborhoods and quality of life. Moses, operating outside the traditional government framework, sidesteps many of the borough politicians who tried to oppose him.

The New York State Legislature is the governing body responsible for making laws and policies at the state level. The New York State Legislature consists of two chambers: the Senate and the Assembly. The Senate has 63 members, while the Assembly has 150 members. Both chambers must pass legislation for it to become law. The governor has the power to sign bills into law, veto them (rejecting them outright), or take no action (allowing them to become law without a signature). If the governor vetoes a bill, the legislature may override the veto with a two-thirds majority vote in each chamber. Throughout The Power Broker, Moses writes complex legislation that he pushes through the legislature, often creating power for himself before anyone realizes what has happened.