Harvard's Ed Glaeser, also a Manhattan Institute senior fellow, and Wharton's Joseph Gyourko have an (free registration required) of the likely futility of proposed government efforts to stop the slide in housing prices. The profs specifically Read More
Even as states and municipalities face unprecedented capital-markets pressure as they try to issue new debt, Standard and Poor's currenty has no states on ratings-watch negative, or even with a negative outlook. Read More
From Stephen Green, chairman of London-based HSBC, the world's largest bank: "I believe the direction is clear: regional capital markets will develop and more of the capital generated in the fast-growing emerging markets will stay closer to home on t Read More
California may have to ask the federal government for a $7 billion loan by the end of the month just to pay for basic services like police and firefighting, Gov. Arnold Schwarzenegger last Thursday. New York City readers may have shuddered, as the r Read More
As E.J. notes in the post below this one, Gov. Paterson says he thinks Wall Street bonuses could be down as much as 60 percent, higher than his budget office's expected 43 percent decline. To put this estimate in perspective: after the tech bubble Read More
New York is twice impacted by the collapsing world of complex finance: first for the obvious reason and second because in recent years, it has structured much of its own $54 billion in debt in a way that makes the city more acutely vulnerable to int Read More
By wrapping up a gambling agreement with the Saint Regis Mohawk Tribe this week, Governor Cuomo moved another step closer to implementing his “resort gaming destination plan,” which he says can “supercharge” economic development. Read More
Governor Paterson is reportedly close to striking a deal with state employee labor unions under which the governor will drop his plan to layoff off over 7,000 state workers in exchange for the unions' acquiescence to (a) Read More