Just got back, late last night, from a weekend visit to NYC. We didn't do a whole lot, but it was a good trip. The kids loved the Museum of Natural History (as expected). And we had several very good meals.
One thing we missed was seeing the building that was just certified for its height today; 1 World Trade Center. I'm a bit disappointed at that, although, given that we went to SoHo and Chinatown, it's probably entirely due to us not looking around for it. I must admit that I hadn't heard anything about it since the design was approved, several years ago, and had forgotten about it since.
Showing posts with label new york city. Show all posts
Showing posts with label new york city. Show all posts
20120516
If the Feds won't do it...
maybe smaller localities can do something to help rein in the big banks.
NYC and LA have passed laws that are aimed at forcing big banks to invest in the local community. They do it by
I won't say that I'm especially optimistic about this working, but maybe it's a small step in the right direction.
It'd be interesting if some of the larger states (read, especially, California) passed laws saying that their pension funds and other government accounts could only be deposited in institutions that follow certain rules. Like, maybe, not engaging in naked shorts (naked shorts, I should point out, are an incredibly risky "investment". So risky, in fact, that they should really be called gambles. They're small on upside, and unlimited on downside. Yes, if your bet misses, you can lose all of your money. No matter how much you have).
NYC and LA have passed laws that are aimed at forcing big banks to invest in the local community. They do it by
giv[ing] preference for city contracts to banks that make the most substantial investments in the local community through small business loans, home loans, foreclosure prevention, and other programs.
I won't say that I'm especially optimistic about this working, but maybe it's a small step in the right direction.
It'd be interesting if some of the larger states (read, especially, California) passed laws saying that their pension funds and other government accounts could only be deposited in institutions that follow certain rules. Like, maybe, not engaging in naked shorts (naked shorts, I should point out, are an incredibly risky "investment". So risky, in fact, that they should really be called gambles. They're small on upside, and unlimited on downside. Yes, if your bet misses, you can lose all of your money. No matter how much you have).
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