New York City's Budget Woes....
I was shocked to see the state of the city address from New York City's Michael Bloomberg. He is proposing to lay off 23,000 people. He is proposing to defer filling vacancies in the police and fire departments. I can understand why New York is in trouble as it is. Wall Street has seized to exist. Lehman, Bear Stearns and Merrill have seized to exist. Although I am trying to remember Sir David Tang's admonition to be optimistic about the future, the flood of bad news is simply unbearable to assess at times. 18 billion Dollars, though, were paid out in bonuses to an industry that got billions from the industry. I wonder what happened to that money.
With hinesight, I think New York City should have seen this day coming. The party has ended. I could not believe Rudy Giuliani, though. He was on CNN on Thursday defending the bonuses. I can't figure out why even the Republicans are being listened to. They were in the driver's seat during this bing. Now, we're all paying for this drunked rampage. I am afraid as to when this will be turned around. We have to deal with it--and deal with it we will!!!
With hinesight, I think New York City should have seen this day coming. The party has ended. I could not believe Rudy Giuliani, though. He was on CNN on Thursday defending the bonuses. I can't figure out why even the Republicans are being listened to. They were in the driver's seat during this bing. Now, we're all paying for this drunked rampage. I am afraid as to when this will be turned around. We have to deal with it--and deal with it we will!!!
Mike Pouraryan
