Saturday February 10 7:13 PM ET
Ex-NY Mayor Beame, Faced Fiscal Crisis, Dies at 94
NEW YORK (Reuters) - Former New York City Mayor Abraham Beame, whose four-year term in the mid-1970s saw the city's worst financial crisis, a citywide power blackout and the Son of Sam serial killings, died on Saturday at the age of 94, a hospital spokeswoman said.
Beame, the 104th mayor of the Big Apple and the first Jew to hold the office, died at New York University Medical Center after being hospitalized with heart disease for several months, a hospital spokeswoman said.
Beame was mayor during the tumultuous 1974-1977 period. During his term, New York faced the worst financial crisis in the city's history, forcing Beame to lay off tens of thousands of municipal employees.
With the city on the brink of bankruptcy, then-President Gerald Ford refused to provide financial aid, prompting the famous New York Daily News headline: ``Ford to City: Drop Dead.''
Beame eventually helped secure annual federal loans of $2.3 billion and kept New York from going bankrupt.
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