Blog

At a Crain's breakfast this morning, City Comptroller (and 2009 mayoral candidate) Bill Thompson acknowledged a vital truth. "Budget growth has lately been out of balance with the growth of our local economy. Had we started to tie city spending to [ Read More

As suspected and reported anecdotally, municipal-bond issuance fell off the charts in September and October. Municipal Market Advisors, in its weekly outlook today, notes that such bond issuance was 54 percent below last year's levels for September a Read More

With the city comptroller's office now a loss of 35,000 jobs in New York-based investment banking and other financial services occupations, what's the next thing that will drive profits and employment in a Wall Street recovery?  In a recent "On th Read More

As everyone rushes to conclude that America's financial-regulatory regime is completely broken, the FT has  to say (registration required) about hedge funds whose UK-based assets -- estimated at $65 billion dollars -- were frozen in the Lehma Read More

The Wall Street Journal considers the Bloomberg fiscal record, in an op-ed called The money quote after the jump: Read More

The Securities Industry and Financial Markets Association released its c of Wall Street's second-quarter results today. It found that for the quarter, which ended in June, US-based broker-dealers eked out a pre-tax profit of $4.8 billion, after three Read More

The possibility of increasing the city's resident personal income tax was broached by Council Speaker Christine Quinn in her before the Citizens Budget Commission yesterday. Today's Times on the subject includes some comparisons of the Read More

Update: The Times reports that the MTA put off a planned debt issue Tuesday because of the still-inhospitable capital markets. Ohio and Hawaii did the same. The good news is that despite increasing pressure on both revenues and Read More

The good news is that despite increasing pressure on both revenues and expenses, Standard and Poor’s has affirmed the Metropolitan Transportation Authority’s “A” rating, with a stable outlook. Read More

Japanese financial-services group Nomura, in its late September purchase of bankrupt Lehman Brothers' European and Asian divisions, is one institution willing to invest new money in the future of high global finance. So how does one key Nomura figure Read More

The chart below depicts the 25-year trend in what I call the "Tax Stability Quotient" -- the share of all New York City tax receipts composed of real property, sales, utility and commercial rent taxes, which tend to be the city's most stable revenue Read More

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About

The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.