Streams

Paterson Defends Push for AIG Bailout

Wednesday, September 17, 2008

New York's governor, David Paterson, says his conscience is "clear" over his push to have the federal government bail out insurance giant AIG. He says AIG's demise would have had "unpredictable" consequences for the economy, from hedge funds to life insurance. WNYC's Brian Lehrer asked ...

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Tenants Groups Sue Rent Board

Wednesday, September 17, 2008

This summer the Rent Guidelines Board took the unusual step of approving higher increases for tenants who've lived in their rent-regulated apartments a long time and who pay some of the lowest rents. But a recent lawsuit challenges that decision. WNYC's Cindy Rodriguez reports.

REPORTER: This ...

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'Piss Christ' Artist Returns

Tuesday, September 16, 2008

Photographer Andrés Serrano first became a household name in the late 1980s. One of his photographs, "Piss Christ," showed a crucifix immersed in the artist’s urine. The late Senator Jesse Helms turned it into Exhibit A in his crusade against public arts funding. Serrano has ...

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Port Authority Approves Freedom Tower Contracts

Tuesday, September 16, 2008

Despite the current global financial turmoil, the Port Authority's Board of Commissioners went ahead today and approved several key contracts for the construction of the Freedom Tower.

WNYC's Bob Hennelly was there and has this report.

Fully 95 percent of the contracts needed to complete the $3 ...

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Lehman Collapse Ripples in New Jersey

Tuesday, September 16, 2008

Just a few months ago New Jersey public pension managers bought $120 million in the now bankrupt Wall Street investment bank Lehman Brothers. WNYC's Bob Hennelly has more.

REPORTER: A spokesman for New Jersey Treasurer David Rousseau confirms the $120 million ill-fated Lehman stock purchase back ...

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Lehman Employees Cope With Uncertain Climate

Tuesday, September 16, 2008

The British Bank Barclays has agreed to acquire Lehman Brothers' North American investment banking and capital markets businesses for $250 million in cash, and will also purchase Lehman's New York headquarters and its two data centers in New Jersey for $1.5 billion.

This deal could be ...

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Fewer Schools Get F Grades

Tuesday, September 16, 2008

The city's elementary and middle schools have received their second annual progress report cards from the Department of Education. WNYC's Arun Venugopal has more. REPORTER: The progress reports suggest that the city's schools are doing far better this year, with half as many F's and ...

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Advice for Job Seekers: Don't Wait

Tuesday, September 16, 2008

Thousands of people in New York City are expected to lose their jobs in the coming weeks, as Lehman Brothers goes through bankruptcy and Merrill Lynch is absorbed by Bank of America. To talk about the impact on New York's job market, and how job-seekers ...

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Rangel Holds Onto House Chairmanship Amid Inquiry

Tuesday, September 16, 2008

Congressman Charles Rangel emerged from a private meeting with fellow lawmakers last night having survived another day as chairman of the House tax writing committee despite lingering questions about his personal finances and unpaid taxes on a beach house.

The longtime Harlem representative said he couldn't ...

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Rangel to Stay in Powerful Congressional Post

Tuesday, September 16, 2008

There will be no shake up at the congressional Ways and Means committee.

The dean of the New York delegation, Congressman Charlie Rangel, never considered stepping down from his powerful seat as chairman of the tax-writing committee. That's according to his lawyer, Lanny Davis, who held ...

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Troubled Firm Could Shake Up Manhattan Real Estate

Tuesday, September 16, 2008

Lehman Brothers' bankruptcy will likely have domino effects on other industries, especially if it decides to sell its Times Square headquarters and sublease other space it uses. WNYC's Matthew Schuerman has more.

REPORTER: Throughout Manhattan, the bank occupies a total of about 2.7 million square feet ...

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Pilot Program to Reserve Lanes for Slow Buses

Monday, September 15, 2008

City officials are trying to speed up one of the slowest buses in the city. Officials are set to unveil new bus lanes along 34th Street today. Only cars and trucks turning right will be allowed in the new lanes, which run from 1st Avenue ...

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Lehman Brothers Files for Bankruptcy

Monday, September 15, 2008

Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 bankruptcy protection from its creditors this morning and says it's trying to sell off key business units. The filing was made in the U.S. Bankruptcy ...

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Paterson: AIG Allowed to Borrow from Subsidiaries

Monday, September 15, 2008

As the financial markets continue to roil, Governor David Paterson steps in to help ailing insurance giant AIG. WNYC's Elaine Rivera reports. In an unusual move, Paterson says he'll allow the American International Group - the world's largest insurer - to use $20 billion in ...

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Paterson Throws AIG a Lifeline

Monday, September 15, 2008

As nervous investors try to understand the rapidly changing landscape of the financial industry, the State of New York is throwing one troubled company a life line.

REPORTER: Governor Paterson says the state will relax regulations, and allow the American International Group to lend itself $20 ...

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Muted Optimism Outside Lehman Brothers

Monday, September 15, 2008

The mood outside Lehman Brothers today was more optimistic than you might expect. Carmine Visone is a managing director and has worked at the investment bank for more than 35 years.

REPORTER: He says he had a great run at Lehman, and that he'll survive, as ...

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State and City Economies Will Feel Effects of Wall Street Turmoil

Monday, September 15, 2008

The job losses that are likely to come from the bankruptcy of Lehman Brothers and the sale of Merrill Lynch to Bank of America will affect the economies of New York City and New York State.

REPORTER: But Greg David, editor in chief of Crain's New ...

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New Club Taps Into Diversity of Performance Arts

Monday, September 15, 2008

Last night the Signal Ensemble performed Steve Reich's "Music for 18 Musicians" at one of Manhattan's newest venues, Le Poisson Rouge.

Located at the site of the historic jazz club The Village Gate, Le Poisson Rouge is opening at a time when venues of all genres ...

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City Will be 20% Seniors by 2030

Monday, September 15, 2008

The city is predicting 20 percent of its population will be senior citizens by 2030 and it's working now to get ready.

REPORTER: Jo Ivey Boufford, head of the New York Academy of Medicine, says the city doesn't necessarily need to provide many new programs, just ...

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Top Officials Speak Out on Wall Street Turmoil

Monday, September 15, 2008

The turmoil on Wall Street has caught the attention of top elected officials. Governor Paterson and Mayor Bloomberg have scheduled separate news conferences this hour to talk about the crisis brought on by the demise of Merrill Lynch and Lehman Brothers.

REPORTER: Crain's New York Business ...

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