Mayor Addresses World Markets' Effects on the City

By
Arun Venugopal
WNYC News | Jul 12, 2010

New York, NY —

Mayor Bloomberg says plummeting world financial markets will have an impact on the city's finances, but he said New York is still on sounder footing than other parts of the country.

BLOOMBERG: We are dependent on Wall Street profits and that's clearly going to be lower. We are dependent on people's confidence in the future and that is going to be less than it was. But I don't think it's cataclysmic - it certainly is something to worry about.

REPOTER: The mayor also advised New Yorkers to tighten their household budgets in preparation for leaner times.

Profile Image
Arun Venugopal

WNYC is funded by sponsors and member donations

Top Stories

America at 250: A View from Britain, with “The Rest Is History”

The historian-podcasters Dominic Sandbrook and Tom Holland explain why losing the thirteen colonies “annoyed” the British, but “it could have been a lot worse.”
The New Yorker Radio Hour |

NYC Rent Guidelines Board approves 2-year rent freeze, fulfilling Mamdani campaign pledge

About 1 million rent-stabilized apartments will be shielded from rent increases for the next two years after the historic vote.
Gothamist |

Are Carriage Horses a Thing of the Past?

Liam Quigley talks about the latest efforts to ban carriage horses in Central Park.
The Brian Lehrer Show |

Feds indict former Mayor Adams adviser Frank Carone in migrant housing bribery scheme

One of former Mayor Eric Adams' oldest and closest allies was arrested Wednesday on federal corruption charges, joining a growing roster of Adams aides facing prosecution.
Gothamist |
YOU ARE ONLINE