De Blasios strapped for cash, take out loan, report says

Even the Mayor of New York City can find himself strapped for cash.

According to the NY Post, the de Blasios took out a loan for anywhere between $5,000 and $48,000 from HSBC Bank just as his second child was headed off to Yale University.

Tuition there runs about $61,000 per year.

The exact loan amount is unclear given that the financial disclosure form for 2015 only provides a general range.

Mayor Bill de Blasio, who earns $225,000 a year, gets free housing, food and transportation. He is also paying off three mortgages totaling more than $1.1 million, reported the NY Post.