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Economics

Economics

(Photo: Getty)

Bloomberg Castigates Both Parties in Response to Weak Jobs Report

Mayor Michael Bloomberg heavily addressed the country’s stagnating job situation during his weekly radio show with John Gambling this morning, and he argued again and again that both the Democratic and Republican parties are big on talk and weak on reality when it comes to dealing with the economy.

“I’m going to give a speech at the Economic Club in Washington on Wednesday next week, talking about what we’ve done here to create jobs and what both the presidential candidates should do,” he said. “They both say, ‘I’m going to create jobs.’ But then they don’t give any specifics, ‘We’re going to have infrastructure, let’s build infrastructure.’ But the average person is not going to be a construction worker; it’s just not going to happen.”

Mr. Bloomberg argued that certain policies, like those that increase educational performance, could help improve the structural system and pointed to his city as an example. Read More

Economics

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Bloomberg Defends Banks, Decries Government Dysfunction

Mayor Michael Bloomberg sat down with George Stephanopoulos this morning and said that the problem with the economy was that it is just coming out of a period where people took too much risk, and is now deep in one where nobody wants to take a risk.

And the way out of this problem is two-fold: Washington needs to get its act together, and everybody ought to lay-off the bankers. Read More

Economics

Ed Koch Wants Some Answers from S&P

Former Mayor Ed Koch today sent a letter to Standard & Poor’s, asking their chairman to respond to the widespread criticism his credit rating agency is coming under.

“Your downgrading of the U.S. debt has been characterized as causing the loss of $2 trillion in the collective wealth of Americans, affecting fixed income people, and endangering the retirements of millions of Americans.

“What say you to these attacks on your integrity?”

A copy of Koch’s letter is below. Read More