Michael Gianaris's posts related to Banks

U.S. treasurer extols lending

The Times Ledger wrote about U.S. Treasurer Rios' visit to Astoria to note the impact of the initiatives the Obama administration is taking towards the nation's economic recovery. Senator Gianaris commended the usage of the local bank's federal grant to support the small businesses in Queens.

U.S. Treasurer Rosa “Rosie” Gumataotao Rios and U.S. Rep. Joseph Crowley (D-Jackson Heights) visited Astoria’s Alma Bank to tout a $19 million grant the bank received from the federal government to lend to small businesses near its locations throughout the city and in New Jersey.

“We’re pleased to see Alma Bank putting that capital to work right here in Queens,” Rios said.

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U.S. treasurer touts small biz Qns. loans

The Queens Chronicle wrote on the recent visit of Treasurer Rosie Rios as she praised an Astoria bank as an example of Obama's initiatives to help small businesses, as part of a larger plan to recover the nation's economy. Senator Gianaris spoke about how the SBL fund could have a major impact on the Queens community that is largely comprised of immigrants, but that the state itself is not strong enough to offer a program as such on its own.

The treasurer of the United States was on hand at an Astoria bank on Monday, touting it as a prime example of an Obama administration initiative to help small business.

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State Senate Approves Plan For Middle Class Tax Break, Millionaire Tax Hike

NY1 wrote about the recent Albany passing of the change in the state's tax code, which will essentially up the taxes for the wealthy in New York and give breaks to millions of other residents. Senator Gianaris supports this change, hoping that during these difficult economic times, this tax break will benefit middle class families in New York.

Albany lawmakers on Wednesday passed a major overhaul of the state's tax code that will mean higher taxes for the wealthiest New Yorkers and a tax break for millions of residents, pending the approval of the State Assembly.

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Pols’ power play

The New York Post wrote an article about community leaders from Queens who are complaining that a $4.8 million fine issued to Morgan Stanley for a price-fixing scheme is not enough. Senator Gianaris feels that such an insignificant fine would continue to permit the bank to reap the benefits of its illicit profits.

Two local lawmakers have asked a judge to pull the plug on a deal that leaves victims of a huge electricity price-fixing scheme out in the cold.

State Sen. Michael Gianaris and City Councilman Peter Vallone Jr., both Queens Democrats, wrote Manhattan federal Judge William Pauley asking him to order Morgan Stanley to refund millions of dollars to Con Ed customers.

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A slap on the wrist for illegal millions?

The Queens Chronicle investigates the alleged prixe-fixing scheme employed by Morgan Stanley and KeySpan that overcharged New Yorkers for electrictity while garnering Morgan Stanley and KeySpan $21.6 million. Senator Gianaris believes that the Department of Justice's recommended fine of $4.8 million is inadequate.

A price-fixing scheme allegedly concocted by Morgan Stanley and KeySpan, and involving Astoria Generating Co., may have overcharged New Yorkers for electricity while garnering Morgan Stanley and KeySpan millions, according to published reports and two area politicians outraged at the scheme: Councilman Peter Vallone Jr. (D-Astoria) and state Sen. Mike Gianaris (D-Astoria).

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Local pols reject Morgan Stanley price fixing settlement

The Queens Courier wrote an article about the Department of Justice's $4.8 million settlement with Morgan Stanley for their illegal pricing scheme, which cost ratepayers roughly $300 million. Senator Gianaris and other local politicians are pushing the Dept. of Justice to increase the fine, arguing that the current settlement is unacceptable and would allow Morgan Stanley to keep millions in profit.

Local elected officials are expending “energy” to ensure Morgan Stanley doesn’t get a quick “fix” to its illegal pricing ploy.

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