Is Wall Street roaring back — as a revenue-generating force for New York’s insatiable state and city governments, that is? You might get that impression from glancing at today’s press release from state Comptroller Thomas DiNapoli, which headlines the finding that the average bonus for securities industry employees in New York “grew by 15 percent to $164,530 in 2013, which is the largest average bonus since the 2008 financial crisis, and the third highest on record.” Read More
The latest mergers & acquisitions figures are out, and they're not pretty. According to mergermarket, an M&A data watcher, the year's global slowdown is not only continuing but accelerating. New York can hang on to a thread of good news only in that its rate of decline is not accelerating. Read More
The national housing crisis is over.*** New York should worry. Read More
Today is full of bad news for Wall Street. The New York Times reports that the street is moving mid-paying jobs to middle America, and S&P has a new report out saying that the i-banking business is moving to a "less profitable, but somewhat lower risk, business model." Read More
Publicly traded financial firms put out a lot of reports, and they're long. But you don't get to learn what really happens inside such companies until something's gone wrong. Read More
A big wheel at Deutsche Bank, chief risk officer and board member Hugo Bänziger, has some portentous thoughts about banking (and therefore, about New York City and State finances) in today's FT. Read More
The fact that markets are flat after la crise JPMorgan Chase came to light -- and that JPM stock is down only 7.3 percent as of this writing -- shouldn't be a comfort to anyone. Read More
Wendy Long, a lawyer who is trying to oust fellow lawyer Kirsten Gillibrand from the Senate, has with a compelling headline: "Financial Regulation is Hurting New York." True enough. But the 70 percent of the details that Long gets wrong eclipse Read More