Tag: Wall Street

Mayor Bloomberg announced his budget this afternoon for the fiscal year that starts in July. The mayor expects that a combination of federal stimulus, state funds, tax hikes, spending cuts, and labor givebacks will close a $4 billion budget gap tha Read More

NYU prof Thomas Philippon and U-VA Prof Ariell Reshef have written a tracing the trajectory of wages in the American financial sector over the last century. Not surprisingly, financial-industry wages broke away from the rest of the economy starting i Read More

For New York, it's not paying (anymore) to be home to the smartest guys in the room. Since its credit-bubble peak, the securities industry has cut 3.1 percent of its jobs nationwide, according to the Securities Industry and Financial Markets Assoc Read More

The Times today that the amount of commercial real estate on the market in Manhattan has doubled since last year, and that rents are down "20 to 30 percent from the going rents at the end of the summer — to around $75 to $80 a square foot Read More

Swiss banking giant UBS has announced a to executives and board members. Although the system does not apply to traders and mid-level bankers, it's still a useful document. The future iteration of Wall Street is going to rethink its entire bonus str Read More

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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.