Market vs. Power - NYC and WDC respond to snow
Midtown Manhattan came back to life as residents and tourists rejoiced in the warming sunlight, digging out buried cars, heading to Broadway shows and frolicking in massive drifts left by New York City's second-biggest snowstorm in history.
In Washington, where a traffic ban was still in effect, the recovery got off to a slower start, with the entire transit system closed through Sunday. Federal government offices in the Washington area will be closed on Monday, the Office of Personnel Management said.
http://www.reuters.com/article/us-usa...
In Washington, where a traffic ban was still in effect, the recovery got off to a slower start, with the entire transit system closed through Sunday. Federal government offices in the Washington area will be closed on Monday, the Office of Personnel Management said.
http://www.reuters.com/article/us-usa...
Not many people - even here - earn an independent income from buying and selling fiduciary paper, so not many people understand it. We understand why LeBron James is paid well because we all know that we suck at basketball because we play it. We spend hours watching football. We do not spend hours watching the Standard and Poor, cheering with our buddies, running to the kitchen for Red Bulls...
It is true that Goldman-Sachs was bailed out, while Bear Sterns was not. We can condemne the corrupt bargain. However, NYC is more than one or two big firms.
"FINRA is the largest independent regulator for all securities firms doing business in the United States. We oversee nearly 4,430 brokerage firms, 162,155 branch offices and 629,530 registered securities representatives. Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets." -- http://www.finra.org/investors/broker...
Our common culture denigrates speculation. Your comment is perfect example of that. Capitalism takes it on the chin every time, even here.
Again, see above to Puzzlelady: cities do not grow their own food, but they do not starve in the winter. WDC could have contracted all kinds of workers. NYC did that, paying anyone $13.50 an hour to shovel snow from bus stops, etc.
my point was that NYC actually does something and the financial and corporate culture might create some value; But DC...takes away value...no matter how bad they each are or not, they are still opposites on the same side of the coin.
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