The United Nations wants to build and renovate in New York City, but it needs to take over land from a city park, and it needs about $600 million. It had hoped to get the State of New York to sell some bonds, offering a vague and legally unenforceable commitment to repay the bonds with dues from its member states.

Given the fact that UN diplomats—with—immunity currently owe New York City $195 million in unpaid parking fines, why should any sane government entity borrow money and put its own taxpayers on the hook?

The New York State Assembly will have nothing to do with it, and three cheers for them. This New York Sun article provides lots of colorful detail.

It also suggests that Democrats like John Kerry, who think the United States should rely on UN multilateralism are backing a very unpopular institution. For a blue state, New York has a mighty poor regard for the United Nations. New Yorkers are not known for stupidity.

Hat tip: Ed Lasky

Thomas Lifson   12 3 04