For months, the paychecks of nearly 5,000 New Orleans municipal workers depended on the judgment of one man: Louisiana Legislative Auditor Mike Waguespack.
It was an unusual deal. The state auditor typically investigates public finances. He does not control them.
But after New Orleans’ fiscal crisis worsened last fall, the unassuming Thibodeaux resident in November began supervising bond funds New Orleans would use to cover its payroll. Though Mayor Helena Moreno has since assumed office, in order to issue paychecks, Waguespack had to be on board…