Bill Thompson (New York politician) facts for kids
Quick facts for kids
Bill Thompson
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| 42nd Comptroller of New York City | |
| In office January 1, 2002 – December 31, 2009 |
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| Mayor | Michael Bloomberg |
| Preceded by | Alan Hevesi |
| Succeeded by | John Liu |
| Personal details | |
| Born |
William Colridge Thompson Jr.
July 10, 1953 New York City, New York, U.S. |
| Political party | Democratic |
| Spouse | Elsie McCabe |
| Children | 2 |
| Education | Tufts University (BA) |
William Colridge Thompson Jr. (born July 10, 1953) is an American politician. He served as the 42nd Comptroller of New York City from 2002 to 2009. The Comptroller is like the city's chief financial officer, managing its money. After his time as Comptroller, Thompson ran for Mayor of New York City twice. He also became the chairman of the board of trustees for The City University of New York (CUNY).
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Early life and education
Thompson grew up in Bedford-Stuyvesant, a neighborhood in Brooklyn, New York. His mother was a public-school teacher. His father, William C. Thompson Sr., was a well-known leader in the Democratic Party. His father also served as a City Councilman, a State Senator, and a judge.
Thompson's grandparents came to New York City from Saint Kitts and Nevis in the Caribbean. He went to Midwood High School in Brooklyn. Later, he graduated from Tufts University in 1974.
Career highlights
After college, Thompson worked for a Brooklyn Congressman. He then became the youngest Deputy Borough President of Brooklyn. In this role, he helped fix problems between different groups of people in Brooklyn.
From 1994 to 2001, Thompson was a member of the New York City Board of Education. He was also its president for five terms. During this time, he worked to improve the public school system. He pushed for better after-school programs and more art classes. He also wanted to make sure teachers were well-trained.
Thompson also served on the boards of several important New York City institutions. These included the American Museum of Natural History, the Brooklyn Children's Museum, and the Queens Public Library. He also worked with the Wildlife Conservation Society.
New York City Comptroller (2002–2009)
As the New York City Comptroller, Thompson was in charge of the city's money. He managed a large annual budget and one of the biggest pension funds in the world. Pension funds are savings accounts for city workers' retirements.
Thompson helped these pension funds grow. He also made sure that more of the money was managed by businesses owned by women and minorities. He encouraged companies to be responsible about their impact on the environment. He also supported fair employment practices for everyone.
Thompson helped invest city funds back into New York City. This led to the creation of over 20,000 affordable homes. It also helped develop new business spaces. He also supported projects that created clean energy sources.
In 2003, Thompson helped open new bank branches in neighborhoods that didn't have many. This made it easier for more New Yorkers to open bank accounts. It also helped them get business loans and home mortgages. He also created programs to help New Yorkers with money challenges. These programs offered workshops on saving and credit.
As Comptroller, Thompson's office also checked how city agencies were spending money. He worked to make sure city services were efficient and effective.
2009 mayoral election
In 2009, Bill Thompson ran for Mayor of New York City. He won the nomination from the Democratic Party. He also received support from the Working Families Party.
During his campaign, Thompson raised concerns about how the city was reporting school graduation rates. He suggested that the way the city tracked these numbers might not be accurate. He believed that pressure to show higher graduation rates could lead to problems.
Thompson received endorsements from many important political figures. These included President Barack Obama and New York's U.S. Senators. He also had the support of the city's largest union, District Council 37. Many other unions also endorsed him.
The election was close, but Thompson lost to the incumbent mayor, Michael Bloomberg.
After the Comptroller's office
After leaving the Comptroller's office, Thompson joined an investment banking firm. This firm was the largest in the country owned by African-Americans, women, and Latinos. He became a partner there in 2015.
Thompson was also appointed chairman of the Board of The Hugh L. Carey Battery Park City Authority. This group helps manage and develop the Battery Park City area in New York City. He also chaired Governor Andrew Cuomo's task force for minority and women-owned businesses.
2013 mayoral election
Thompson decided to run for Mayor again in 2013. This time, there was no incumbent mayor running. He raised money for his campaign and gained support from various people.
In the Democratic primary election for mayor, Thompson came in second place. He lost to Bill de Blasio, who later became mayor.
Since 2015, Thompson has continued to serve in important roles. He has chaired the New York State Housing Finance Agency and the State of New York Mortgage Agency. Since 2016, he has been the chairman of the City University of New York board of trustees.
Personal life
Bill Thompson lived in Brooklyn for most of his life. In 2008, he moved to Harlem after marrying Elsie McCabe Thompson. She is a lawyer and was the former president of the Museum for African Art. She also worked as chief of staff for former Mayor David Dinkins.
See also
- New York City Comptroller
- New York City mayoral election, 2009
- New York City mayoral election, 2013
Images for kids
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Thompson delivers his concession speech after losing the mayoral election.
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