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Home > Wall Street’s Winter: Grim news for NYC’s budget

Wall Street’s Winter: Grim news for NYC’s budget

By Bill Perkins

 
Posted by Bill Perkins [1] on Friday, October 14th, 2011

Last Updated: 10:20 AM, October 7, 2011
Posted: 9:45 PM, October 6, 2011

By: Nicole Gelinas

Tick-tock. Thanks to Washington’s support for big banks, New York City has been a cocoon of prosperity compared to the rest of the nation over the last three years.

But banks can’t stay on the dole forever -- and the city’s done nothing in the 37 months since Lehman Bros. collapsed to prepare for a leaner Wall Street.

Without endless financial-industry profits, New York can’t afford to make good on the promises it’s made to workers and pick up the trash and keep criminals off streets.

CLICK TO READ FULL ARTICLE [5]
Publication date: 
Thursday, October 6, 2011 - 21:45
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Bill Perkins [1]
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Source URL (retrieved on 06/19/2013 - 6:39am): http://www.nysenate.gov/news/wall-street-s-winter-grim-news-nyc-s-budget

Links:
[1] http://www.nysenate.gov/senator/bill-perkins
[2] http://www.nysenate.gov/senator/bill-perkins/issues/budget
[3] http://www.nysenate.gov/senator/bill-perkins/issues/finance
[4] http://www.nysenate.gov/senator/bill-perkins/issues/new_york_city
[5] http://www.nypost.com/p/news/opinion/opedcolumnists/wall_street_winter_7Y6DBT4FLdFlIqGNrERQqO#ixzz1alfGIXow