Pension blues, too | NY Torch

On the heels of Governor Paterson's gloomy budget update, state Comptroller Thomas DiNapoli announced the state's Common Retirement Fund has lost 20 percent of its value since April 1.  That would translate into a drop of $31 billion from the March ...

What goes up … | NY Torch

Harvard's Ed Glaeser, also a Manhattan Institute senior fellow, and Wharton's Joseph Gyourko have an excellent explanation (free registration required) of the likely futility of proposed government efforts to stop the slide in housing prices. The ...

Muni glad tidings (or at least stable) | NY Torch

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. (more…)...

What’s next for Wall Street | NY Torch

With the city comptroller's office now projecting 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 rece...