Very interesting article in the Daily News about Bloomberg's 12 year term as NYC Mayor. It says essentially:
Bloomberg would cut the budgets of a groups heavily dependent on city funding, then make an "anonymous contribution" to the same group under the name "the Carnegie Corporation. "This strategy made all the groups he “saved” dependent on his personal largesse, thus silencing every would be independent voice and/or critic.
On the plus side, he cut some government spending, i guess. And he put his money where is mouth was. He did fund a lot of art and cultural programs from his own pocket.
But there's a whole lot of downside, mainly in that
a) it's nearly effortless, weasely and akin to bribery
b) unless his successor has pockets as deep as his, he's been set up for failure.
Edit: updated link: http://nypost.com/2013/06/23/ilence-was-golden/