In making his reasoning for running for an unprecedented third term as mayor, Michael Bloomberg rationalised that it was his financial acumen and success that qualified him for running New York City during the financial crisis. Just like other notions that the mayor has maintained, it was implied or promised that he had the resources or expertise to help the city survive the Great Recession. But has he demonstrated such financial leadership when it came to saving St. Vincent's Hospital from bankruptcy and financial ruin ?
In a news article published on Bloomberg.com in late January 2010, the mayor said that he was not going to be of any help to solve the financial problems of St. Vincent's Hospital.
Mayor Michael Bloomberg said he intends to keep the city out of St. Vincent’s financial troubles. The city controls 11 full-service hospitals run through its Health and Hospitals Corp., “which we are going to have an enormous challenge to maintain,” and wouldn’t take on St. Vincent’s to keep it operating, he said.
On April 30, St. Vincent's Hospital closed its doors. So, really, what good is Mayor Bloomberg, if he has no financial answers to offer ?
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