William C. Thompson Jr.

[Ed's note: This story has been expanded with online bonus content.]

I don't mind telling you that I have a reputation for really hard-hitting questions, so I hope you're ready.
Let me brace myself.

What exactly do you comptrol?
Ah. The office does probably five or six different things, everything from investment to being the adviser to the city's pension funds, which are over $100 billion. We set the prevailing wage, which is what working men and women get paid on public construction jobs. We set and enforce that. We try to get involved with everything, actually. Control of New York City bonds…the mayor and I share that authority. We have to agree on everything.

Like with the weapons keys on a nuclear sub?
[Laughs] That's very good. In this case, I guess I'm Denzel. The mayor is Gene Hackman, and I'm Denzel.

I hear you're considering running for mayor.
I fully expect to be a candidate for mayor next year.

What happens if Brett Favre also decides to run for office?
Oh man, tough one. Brett has got a better arm, but I know the city better than he does. I'm not sure Brett's even going to live in New York. I think he's going to live in Jersey. So he has to live in New York to run. But if he does, I'm in trouble.

Will the next MTA rate hike guarantee me a spot on the L train in the morning?
Unfortunately, for a short period of time, there will be people who will not be able to afford the train. It will open up a few spots for about a month, but then it'll get crowded again.

What gives?
Some of it is how much it costs to run the system. But some of it is also how we've been shortchanged by Albany, when it comes to dollars in mass transit.

The bastards!
Particularly, if you look at Metro-North and the Long Island Railroad and compare it to the MTA, you'll see how much we've been shortchanged. Those two are at about a 100 percent state of good repair. At the current rate, it will take New York City subways about 20 years to reach that point. It is absolutely unfair.

You've said that the city has made adequate preparations to deal with the current economic downturn. Are you telling us that there is no danger of this place turning into Escape from New York?
[Laughs] No, I don't think Snake Plissken's coming back. We are in much better shape than the city has been in during other financial downturns. I give a lot of credit to the mayor, also, for his handling of the budget. When things were good, we took the surpluses and used it to pay bills in the future. We're in better shape than the state is. We have showed discipline during the surpluses, and we're prepared for the problems now.

The state is a millstone!
The state hasn't been as responsible as we have. They haven't planned as well.

Are our taxes being used to fund these new stadiums?
The truth is, taxpayers aren't putting any money into it. We're not footing the bill for either, or else they wouldn't be building them.

Full disclosure: I'm a Phillies fan.
[Groans] Phillies?!? The way things are these days, the rivalry between the Mets and Phillies… They hate each other!

I actually went to a Yankees game the other day for some reason, and they made me check my bag. Next thing I know, my iPod is busted. When you're mayor, can you help me get reimbursed?
Well, if I become mayor, you and I will reach out to George Steinbrenner and see what we can do.

You don't like New York's thriving black market. If you put a stop to it, where will my mom go to get her faux Louis Vuitton bags?
She's going to have to save up and go to Louis Vuitton.

To learn more, including about Brett Favre’s potential of becoming mayor of NYC and whether MTA fare hikes will get you a seat on the subway, go to timeoutnewyork.com/inyc.

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