View the Comptroller's Inaugural Speech

New York City Comptroller William C. Thompson, Jr. takes the oath of office at his inauguration ceremony at City Hall on Sunday, January 1, 2006. Thompson is sworn in by his father, William C. Thompson.

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William C. Thompson, Jr. was sworn in today to a second term as New York City's 42 nd Comptroller, promising to fight for “fairness and opportunity for all New Yorkers” and to empower the Comptroller's Office to “keep our City strong.”

“There is a spirit in New York that is truly inspiring, a spirit that lifts its leaders to want more for the people they serve,” Thompson said. “In the years ahead, I will build on my achievements, deriving strength from this spirit.”

Thompson, who was sworn in by his father, William C. Thompson, at the City Hall inaugural ceremony, spoke about a shared commitment by all New Yorkers to overcome adversity and achieve prosperity.

“I was born and raised in New York City ,” Thompson said. “I have had the chance to get to know the many communities across the City in my career, and yet in the last four years, as I have met and worked with individuals and groups in every neighborhood, in every borough, I have seen a City stronger and more unified than ever before. We are one City and we stand united no matter the challenge.”

The Comptroller, reflecting on the City's atmosphere following the September 11 th attacks, noted the resolve and resilience of New Yorkers. “The challenges we face are enormous and it is not a time for partisanship,” he said. “Collaboration was and still is the key ingredient for our future success.”

“The eyes of the City – indeed the eyes of the Nation and the World – were upon us,” he said. “But we did not shrink from the task. Staring into uncertainty can make some feeble: to New Yorkers, staring down uncertainty is what makes us strong.”

Thompson praised the dedication of his 700 colleagues in the Comptroller's Office, noting a host of accomplishments since he stepped into office on January 1, 2002 . During the last four years, the Office identified more than $170 million in savings through audits of city operations, employed technology to resolve claims more efficiently, and worked to bring banking services to underserved communities across the City.

Additionally, he noted, the Comptroller's Office collaborated with the New York City Pension Funds to invest in real estate, particularly in New York City , and to rehabilitate and create affordable housing for low-, moderate- and middle-income residents.

The Comptroller also laid out his goals for the next four years, vowing to build and expand on these successes. He promised to push for greater corporate responsibility from some of America 's largest companies and to lead the fight against companies that exploit children, discriminate against workers, conduct business in countries that support terrorism, and poison the environment.

Thompson concluded: “Our City is, and must remain a beacon for those who hope, a compassionate home for the vulnerable, and a place where every single New Yorker has the means to realize their dreams and aspirations.”

A lifelong New Yorker, Thompson is the son of a judge and a teacher and the proud product of the New York City public schools.

Over the last four years, Thompson has used the powers of his office to aggressively safeguard the City's finances, seeking out savings and rooting out waste, and has earned a reputation as a tough advocate for New Yorkers.

As custodian and investment advisor to the City's five Pension Funds, Thompson manages a combined portfolio of more than $90 billion, and has invested hundreds of millions of dollars in affordable housing and commercial real estate in New York City , helping increase housing and job opportunities within the five boroughs.

In 1994, Thompson was appointed to the New York City Board of Education, and in 1996, was unanimously elected to serve as its President. During his tenure, Thompson was credited with leading a reform agenda that resulted in improved student achievement and greater public accountability. For ten years, starting in 1983, Thompson served as Brooklyn 's youngest-ever Deputy Borough President. In addition to his public service accomplishments, Thompson served as a public finance executive at an investment banking firm.

Thompson graduated from Tufts University , where he currently serves as a member of the Board of Trustees. He graduated from Brooklyn 's P.S. 161, Andries Hudde Intermediate School , and Midwood High School . Thompson lives in Bedford-Stuyvesant.