State and local governments increased their borrowing by 8.3 percent on an annualized basis between April and June, according to the Fed flow of funds . While the number isn't eye-popping against the past decade's history, what's unusual is that stat Read More
The Fed and President Obama got the headlines they wanted. The NYT wrote Friday that the Fed will propose "," while the WSJ said that "." The rules could mean a change in the mechanics of financial compensation, and thus for Read More
The Federal Reserve is to regulate compensation by the nation's largest banks -- including, inevitably, some big New York firms now raking in big profits thanks to government bailouts. The upshot for Governor Paterson and state lawmakers in Albany Read More
The Metropolitan Transportation Authority (MTA)'s proposed capital program falls short of what downstate's transit assets need, and, what's more, the MTA can't even afford the insufficient amount of spending it has proposed, said state Dep Read More
There are no grounds for optimism in released this morning by state Comptroller Thomas DiNapoli. Net personal income tax receipts were down $83 million, or 4 percent, from the same month in 2008—and a full 12 percent below the August 2007 level Read More
As France-based Veolia Transportation under an initial five-year contract, New Orleans's transit workers will be growing accustomed to a private-sector-style pension scheme, too. Read More
Construction costs throughout New York are falling, according to a data analysis by the New York Building Congress. Materials and labor costs for office buildings are down 10 percent since last year, with costs for apartment buildings down 9 percent, Read More
David Leonhardt's in today's New York Times Business Section (given more prominent play on the Times ) touts a slight recent increase in weekly earnings as evidence that the recession isn't causing widespread pay cuts after all. Read More