DROP DEAD CITY

(director/writer: Peter Yost, Michael Rohatyn; screenwriter: Don Kleszy; cinematographer: Jerry Risius; editors: Don Kleszy, Anna Auster; music: Michael Rohatyn; cast: Harrison J. Goldin, Howard Rubenstein, Charles Rangel, David Gergen, Donna Shalala, Alan Viani, Betsy Gotbaum, Fred Ferratti, Anthony Lofaso, Gabe Pressman, Carl McCall, Herb Elish, Charlayne Hunter-Gault, Judah Gribetz, Linda Greenhouse, Richard Ravitch; Runtime: 108; MPAA Rating: NR; producers: Peter Yost, Michael Rohatyn; A Fear City release/Pangloss Films; 2024)

“It told a compelling newspaper headline story in an informative and entertaining way.”

Reviewed by Dennis Schwartz

Co-directors Peter Yost and Michael Rohatyn direct this eye-opening historical documentary with conviction. Michael is the son of Felix Rohatyn, the banker/diplomat in charge of the Municipal Assistance Corporation. The son pays tribute to his father as being the city’s savior. His MAC enterprise was founded during the crisis in 1975, that negotiated the solution with the city, the banks and the unions that ultimately pulled the city out of financial ruin (in debt for $6 billion).

In 1975, New York City was facing bankruptcy and ruin for numerous reasons that include: financial miscalculations, a mass exodus of the white middle-class for the suburbs, crime was rampant, the Bronx was burning, there was political corruption, and some city leaders were incompetent. The city was in danger of defaulting on the loan that kept its services operating, causing the layoff of police, fire, and sanitation workers.

A flustered Mayor Beame, the former comptroller for the previous mayor John Lindsay, was elected in 1974 and inherited this mess.

The film accurately covers a good part of the story, moves at a fast pace, and relies on talking heads, interviews with politicians and union leaders involved, and archival footage. It told a compelling newspaper headline story in an informative and entertaining way.

This story will always be known for the N.Y. Daily News headline of President Ford telling the city “Drop Dead.” A story that caught his sentiments but was not exactly what he said.

REVIEWED ON 7/28/2025  GRADE: B
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