New York Impact

Friday, October 10, 2008

Sam Chandan, chief economist and senior vice president for economic research for Reis, talks about how New Yorkers are feeling the impact of the fiscal crisis. Also in the discussion, Marisa Di Natale, senior economist covering New York at Moody’s


Sam Chandan and Marisa Di Natale

Comments [15]

LVTfan from Stamford, CT

In response to #4, yes! Not only would this be a better-than-average time to implement Henry George's reform, it would also be a fine way to protect us from this ever happening again.

If you aren't familiar with Henry George's ideas, search on his name, or wealthandwant, or lvtfan.

Not only would this help prevent the boom-bust cycle, it would also reduce or end poverty, raise wages, increase housing affordability, reverse sprawl -- any of which would be fine!

Oct. 10 2008 01:43 PM
Bobby G from East Village

Why is there not a gigantic solar array in the Mojave Desert, with transmission infrastructure, generating enough electricity to power all of LA?

Oct. 10 2008 11:29 AM
Mark Gettes from New York

The previous guest was simply wrong, and self-serving, in saying that no one in the economic community saw this collapse coming. Please look up and read articles by Nouriel Roubini, Prof. of Economics at NYU, who has been predicting and warning of this precise scenario for more than a year!

Oct. 10 2008 10:56 AM
Howard Tarragon from Bronx

Those not blinded by deregulation fever and a good economy saw this coming within the Fed and without.

Oct. 10 2008 10:51 AM

"We didnt see it coming" is BS. My fiancee works in finance and when he explained credit default swaps to me 2 years ago, i asked "why are these things allowed?!" he shrugged. They didn't care - no one did, so long as they made money. Problem is, no one outside finance understood it, and everyone in finance DIDNT WANT them understood, so they could keep gaming the system.

Oct. 10 2008 10:51 AM
Howard Tarragon from Da Bronx

Why query someone from Moody's, a company that was one of the participants in the mortgage Ponzi scheme?

Oct. 10 2008 10:44 AM
ave from nyc

Why would we have confidence in people, i.e. Bush, Bernanke, Paulson, who seem to have been blindsided by this crisis? Warren Buffett was certainly not caught off guard.

Oct. 10 2008 10:43 AM

Why ask for a forecast from Moody's who were, at best, were asleep at the switch or at worst complicit in the mortgage Ponzi screen?

Oct. 10 2008 10:40 AM
Pat Bankowski

I would have more confidence in what the President said if he sounded like he knew what it meant. His delivery was so uncertain and tentative that it sounded like he hadn't read it before going live. Not confidence inspiring.

Oct. 10 2008 10:38 AM
Chuck Renaud from Brooklyn

It seems that all this great success in the past here in NYC has not been good for non Wall Street types. All I have seen in the last 4-5 years is housing going up up up is for people that can spend 600,000 on a one bedroom with a 1200 monthly fee. Maybe average New Yorkers will be able to stay here now. Out with the rich and their cigars.

Oct. 10 2008 10:21 AM
Kabir de Leeuw

Couldn't this be a good opportunity to switch to a Georgian economy (Henry George)?

Oct. 10 2008 10:20 AM
Steve (the other one) from Manhattan

Ask Marisa why Moody's was so slow on the downgrades - they rated a lot of toxic stuff AAA when the writing was on the wall.

Oct. 10 2008 10:20 AM
Tony from San Jose, CA

An interesting measure has been sneaked in the bailout law. This was on the second round (might democracy work?), and it allows the government to buy shares into banks.

That would allow the government to wipe out banks, and get a share of future profits. The banks are adamantly opposed to it (I heard), so it might be a good idea.

Oct. 10 2008 10:14 AM
Roger from West Village

Brian why the silence regarding the major impact that Bloomberg is causing by trying to force a third term? Why the silence on this issue?

Oct. 10 2008 10:14 AM
Renata De Oliveira from Plainview, NY

If all the money you have in life is in a New York municipal bond funds(LTNYX), would you sell now and count your losses, or ride the storm?

Oct. 10 2008 10:11 AM

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