Rescuing New York City may sink the state.

The article reports on a 2.3 billion dollars financial plan approved by the New York legislature. It informs that the plan is divided into three parts. It tells that a part of the plan calls for the state to borrow 750 million dollars over three months to lend to the New York City for one year. It further informs that another part needs state and city pensions to purchase approximately 725 million dollars in Municipal Assistance Corp. (MAC) bonds.