BEFORE WE LET YOU GO THIS WEEK, SOME SAD NEWS OUT OF NEW YORK.

FORMER LIEUTENANT GOVERNOR RICHARD RAVITCH HAS DIED.

HE WAS 89 YEARS OLD.

DESPITE HOLDING THE NUMBER TWO JOB IN STATE GOVERNMENT, RAVITCH WAS KNOWN FOR A LOT MORE.

IN 1979, HE WAS PICKED TO HEAD THE MTA IN NEW YORK CITY AND IS WIDELY KNOWN AS THE PERSON WHO SAVED IT FROM FINANCIAL RUIN AT A DIFFICULT TIME.

A DECADE LATER, HE RAN FOR NEW YORK CITY MAYOR AND LOST BUT HIS WORK CONTINUED.

THEN IN 2009, HE BECAME LIEUTENANT GOVERNOR.

THAT WAS AFTER FORMER GOVERNOR ELIOT SPITZER RESIGNED AND DAVID PATERSON, THEN THE LG, BECAME GOVERNOR AND TO REMEMBER THAT MOMENT, WHICH RAVITCH IS WIDELY KNOWN FOR, WE DUG UP PART OF THE LAST TIME HE WAS IN OUR STUDIO.

THIS CLIP IS FROM 2014 WHEN FORMER "NEW YORK NOW" HOST MATT RYAN SAT DOWN WITH RAVITCH.

WE HAD ELIOT SPITZER IN MARCH OF 2008 RESIGN IN DISGRACE.

HIS LIEUTENANT GOVERNOR BECAME THE CHIEF EXECUTIVE, DAVID PATERSON, AND THEN WE SAW THE STATE SENATE IN TURMOIL AND IN 2009, A FEW OF THE DEMOCRATS JOINED FORCES WITH THE REPUBLICANS AND CONTROLLED.

THE CHAMBER WAS KIND OF UP IN THE AIR AND THAT'S WHEN DAVID PATERSON GAVE YOU A CALL A LITTLE BEFORE JULY 4TH IN 2009.

WHAT DID YOU SAY?

WELL, ACTUALLY, HIS-- HE HAD HIS CLOSE ASSOCIATE CHARLES O'BURTON FEEL ME OUT BEFORE HE CALLED ME BECAUSE HE WANTED TO KNOW I WOULDN'T SAY NO.

I WAS ASKED WHETHER I'D CONSIDER IF HE AIN30ED ME AND IF THE APPOINTMENT WITHSTOOD LEGAL CHALLENGE WHICH THEY KNEW WAS INEVITABLE, WOULD I AGREE TO SERVE AS LIEUTENANT GOVERNOR, AND I CARE A LOT ABOUT THE STATE, CARE A LOT ABOUT PUBLIC SERVICE, THOUGHT ABOUT IT, SPENT 24 HOURS CHECKING AS TO WHETHER THERE WERE ANY CONFLICTS THAT MIGHT MAKE IT AWKWARD FOR HIM OR FOR ME OR THE STATE OBVIOUSLY.

[ APPLAUSE ] AGREED TO DO IT.

THEN GOVERNOR PATERSON LATER IN TERM AS YOU GUYS WERE IN OFFICE TOGETHER ASKED FOR RECOMMENDATIONS ON REFORMING THE STATE'S BUDGET PROCESS AND YOU, OF COURSE, WERE A NATURAL FIT.

YOU HELPED NEW YORK CITY OUT IN THE MID-'70S DURING ITS FINANCIAL CRISIS.

THE STATE WAS HAVING SOME SERIOUS BUDGET GAPS YEAR AFTER YEAR.

SO WE ASKED YOU FOR YOUR RECOMMENDATIONS.

HOW DO WE REFORM THIS?

YOU GAVE HIM YOUR RECOMMENDATIONS AND HE REJECTED THEM.

HOW FRUSTRATING WAS THAT FOR YOU?

IT WAS FRUSTRATING BUT HE WAS NOT ALONE.

THERE WAS VERY LITTLE INTEREST BECAUSE-- EXCEPT INTERESTINGLY ENOUGH, FOR SHELLY SILVER AND HIS STAFF.

YOU MENTIONED THAT.

THAT WAS IRONIC.

THERE WAS A GREAT DEAL OF TIME TALKING IT THROUGH.

YOU HAVE TO UNDERSTAND THAT WHAT I WAS SAYING WAS THAT YOU CAN'T KEEP KICKING THE CAN DOWN THE ROAD.

IT'S NOT A SUSTAINABLE SITUATION.

YOU ARE BORROWING MONEY TO BALANCE YOUR OPERATING BUDGET.

YOU ARE SELLING ASSETS TO BALANCE YOUR OPERATING BUDGET.

THAT IS NOT SUSTAINABLE OVER A LONG PERIOD OF TIME.

AND WHAT I RECOMMENDED WAS, INDEED, VERY PAINFUL MEDICINE FOR PEOPLE IN POLITICS WITHOUT REGARD TO WHERE THEY WERE ON THE POLITICAL SPECTRUM.

[ THEME MUSIC ] MAY HIS MEMORY BE A BLESSING.

WE'LL LINK TO THAT FULL INTERVIEW ON OUR WEBSITE.

YOU CAN FIND THAT AND MORE AT NYNOW.ORG.

[ THEME MUSIC ]