This is taking a sledgehammer to confidence in the banking system. If someone can just take $80 mm out of NYC's accounts without recourse, they can steal your life savings just as easily.
It happens to regular folks all the time when someone steal their debit card number. The bank account gets cleaned out and the consumer has no recourse unlike with credit cards were liability is limited to $50.
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Musk in Beavis voice: "Yeah, yeah! Do it! Do it!"