Welcome to the discussion, JamesLess. If the agreement is made in a statute, it’s more difficult to change through negotiation. But you’re right that, in the end, it’s all about bondholders. The idea is that if New York State renegs on a promise made by statute, its future creditworthiness will suffer to an even greater degree with future bondholders.
Welcome to the discussion, JamesLess. If the agreement is made in a statute, it’s more difficult to change through negotiation. But you’re right that, in the end, it’s all about bondholders. The idea is that if New York State renegs on a promise made by statute, its future creditworthiness will suffer to an even greater degree with future bondholders.
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