“Moses added a single sentence that said that the authority could, quote, from time to time, end quote, pay off its old bonds by issuing new ones. And those new ones could be, quote, for any other corporate purpose, end quote.”
Dwarkesh Podcast · What I learned about power from LBJ and Robert Moses
Play from 2:39
2:39
Audio streams from the publisher’s own feed. Verbatim does not host or copy it.
What was described
added a single sentence in Section 9 allowing the authority to pay off old bonds by issuing new ones for any other corporate purpose
Said nearby on the same subject
“The older one almost, that removing them as authorized user will affect them negatively. So that's how I'd handle it is some other card before, add your 23-year-old on some other card before you cancel the Southwest card.”
“I can run various searches on the corporation and just those searches flag things. Things like how long has the corporation existed? Is there litigation, which may be outstanding? Are there any liens against the corporation or the shares”
“There’s so many strategies that people don’t even know about that they can do where you can literally pay off a rental portfolio in seven years by doing the old snowball effect, the good old Dave Ramsey snowball.”