Harrison J. Goldin, NYC Comptroller, dies at 88 after fiscal crisis

Harrison J. Goldin served as New York City's comptroller for 16 years, navigating the city through a significant fiscal crisis in the 1970s. He was first elected in 1973, coinciding with the election of Abraham D. Beame as mayor. The city faced a staggering $1.5 billion deficit at the time, a situation exacerbated by previous administrations' financial mismanagement, including overspending and budgetary gimmicks. Goldin's tenure was marked by his combative nature and public disputes with Mayor Edward I. Koch, particularly during his unsuccessful primary bid to replace him. Despite the financial turmoil, Goldin was re-elected three times, demonstrating a level of public support and confidence in his fiscal management. His role as chief financial officer was critical as the city approached bankruptcy, and he was known for his rigorous approach to financial oversight. The bond market's lack of confidence in the city's financial health led to challenges in securing necessary funding, further complicating the fiscal landscape. Goldin's legacy is intertwined with the city's recovery from its near insolvency, as he played a pivotal role in advocating for sound financial practices. His efforts were crucial in restoring some level of stability to the city's finances during a tumultuous period. The public feud with Koch highlighted the political tensions of the time, reflecting the broader struggles within the city's governance. His passing at the age of 88 marks the end of an era for New York City's financial leadership, leaving behind a complex legacy of fiscal responsibility amid crisis. His contributions to the city's financial landscape will be remembered as both significant and contentious.