A few days ago, New York’s Metropolitan Transportation Authority (MTA) announced it is selling a “catastrophe” bond worth $125 million, in order to cover the damage from future natural disasters.
The New York City transportation system has a 109-year-old history, but it has “never faced a disaster as devastating” as Hurricane Sandy, the chairman of the MTA, Joseph J. Lhota, said in a statement. After Sandy smashed the city in October 2012, the “Metro-North Railroad lost power from 59th Street to Croton-Harmon on the Hudson Line and to New Haven on the New Haven Line. The Long Island Rail Road evacuated its West Side Yards and suffered flooding in one East River tunnel. The Hugh L. Carey Tunnel is flooded from end to end, and the Queens Midtown Tunnel also took on water and was closed.”
Continue reading The Bonds That Sparked New York’s Transportation History
Here at the Museum we come across a lot of interesting photos and documents in our collection. Today we found one that really takes the cake… so we’ve decided to run a caption-writing contest:
Please put your captions in the comments section below. Winner gets free admission for two to the Museum, as well as a Mu$eum hat!
UPDATE:: Our office has voted and decided that “Primping before the major announcement of ‘the return of the bull market.’ is our favorite caption! Congrats NEWARKMUSEUMPR! We’ll contact you soon about picking up your prize and thanks to all the people who participated and submitted captions!
We are excited to announce that the Museum has opened a new café! Located on the grand mezzanine level of the museum, the café is a great spot to take in the ornate interior of the historic Bank of New York building. The menu includes coffee, gourmet espresso drinks, tea, soda, and a variety of cookies and muffins.
To celebrate the grand opening, we are offering a 10% discount on all coffee drinks this week. If you’re on Wall Street, swing in for a cappuccino and a mint chocolate chip cookie.
Welcome to the Museum of American Finance’s new blog! We are currently in the process of launching several exciting new social media initiatives. In addition to the Museum’s current new media offerings such as our website, MoAF.org; our new wiki, Recessipedia.com; and our Facebook group and fan pages, we will be rolling out a YouTube channel that will aggregate Museum videos and serve as an online arena for shorter, informal video features. We plan to profile staff members, provide sneak peeks into the creation of upcoming exhibitions, focus on important objects from the archive and document the behind-the-scenes accounts that usually remain hidden from visitors. In addition, the Museum can now be followed on Twitter via our handle, @FinanceMuseum (recent tweets can also be viewed on the blog in the top right hand corner of the page).
These new media platforms will provide fresh venues for the Museum to spread the word about upcoming events and programs, and connect visitors in new and innovative ways. These platforms will help create a more accessible museum experience, and will enable more interaction between the Museum and patrons – both in New York and beyond – allowing visitors to continue their education about finance and financial history after they leave the Museum. We look forward to hearing from you via comments and e-mails, and invite you to tell us what you’d like to see on the blog, what you’re interested in learning about the Museum, and how you think we’re doing.