Hungerthon 2015: AboutDonate Today | Bid On Great Auction Items | Listen Live: WFAN | WCBS | 1010 WINS

NYC Laying Off Thousands – Blame Wall Street?

NEW YORK (WCBS 880 / CBS 2) – Mayor Michael Bloomberg says New York City simply can’t afford the size of its current work force.

WCBS 880’s Marla Diamond reports

Federal stimulus money used to pay employees will dry up with the new Congress and Greg David, who covers business for Crain’s New York, says you can also blame Wall Street.

“Wall Street helped us build this huge public sector in New York,” David told WCBS 880 reporter Marla Diamond. “Now that it’s shrinking, we don’t have much choice but to shrink the public sector as well.”

WCBS 880’s Rich Lamb on retirement expenses and NYC’s budget woes

David expects New York Governor-Elect Andrew Cuomo will have to borrow Bloomberg’s budget axe, since Cuomo has made a “no new taxes” pledge with a $9 billion budget gap to fill.

More from Marla Diamond
  • Ray

    When you pay into your pension, work hard everyday of your life and hear people crying about firing people or cutting pay that someone else supports a family is disgusting. What have we come to when we have no regards for our fellow man.

  • david pexton

    about time to get rid of the lazy public leaches. fire them all. cut their pay. farm out the work to a more efficient private sector.

  • vegasdomar

    Don’t come here. Thanks to you Dems. we still have the great Harry “caveat emptor” Reid and 15% unemployment. You come here to Vegas and you have to stand in line while they give jobs to the illegals (they’re not checking I.D.) so Harry and the rest of you Dems. have votes but no jobs. You come here and you have no jobs or people that could help you. You’re on your own. Stay where you are and maybe some relative will let you move in for awhile.

  • moshe

    Public sector employees are just as bad as the welfare recipients. They are unwilling to relinquish their entitlements and gorge the flawed system for whatever they can. Cops, Fireman, sanitation etc. that I know are like the cat that ate the canary knowing how good they have it over the struggling public sector. The unions have obviously outlived their usefulness and be disbanded or seriously reigned in from their out of control, disingenuous positions. They are to blame…..not wall st!

    • Zvi Friedman

      Oy-vey, Moshe, what are you saying ! What will the goim say about your race !
      They are already saying that Moshes, Abrams, Aharons and the rest of Pinchases are owning Wall Street. If they see your comments, they may conclude: “He is right, do not blame Wall Street, blame Moshe, his brothers and the rest of synagogue.
      Think sometimes about what you are saying, Moshe !

  • The Truth

    There is a lot of blame to go around. Lets be real about the subject. Yes Wall Street can be blamed but those Unions are a huge mess as well. Cops and Firemen get Pensions after 20 years and they are allowed to end load their OT to inflated their Pensions which equals a lottery ticket. All parties are to blame. Welfare recepients as well and its not all minorities. Hasidic Jews get plenty of welfare as well. Follow the numbers to know the truth. So quit the whining and be real Americans instead of acting like those Greeks and French.

  • nolane

    thank wall st for the wonderful condition of the 401k’s. they sure deserve those big bonuses.when the pensions are gone and the welfare is gone where are you gonna spend all that extra five bucks…who will you jackanapes go after next before realing the real problem here?

  • NYC Steve

    Without Wall Street AND the wealthy this city ceases to exist. The car services, restaurants, stores, doctors, cultural amenities, nannies, dry cleaners, decorators, broadway shows, car dealers, furniture stores…the list is endless. So, don’t wish them away…every other city in this nation wishes they had Wall Street in their tax district. And those bonuses directly correlate to private sector employment.

    As for public employees, I do in fact see many NOT doing what they are paid for, many disinterested in providing the SERVICES I PAY FOR with my tax dollars. I don’t have sympathy for you because your attitude stinks. You act courteously,
    responsibly, exceed the expectations of your job description and I’ll be willing to listen. Until then…not interested.

  • anna jones

    Jane I agree with all of your comments, yeaterday i visited the Food stamp office in Queens, there were so many people for FS many of them were just ther to take what they can get for free, but the individual I went with really need the food for her grandchildren and herself, she has a mortagage and other expenses whish she is barely making becuase she just goet her green card 1 year ago she was told by the FS personnel that she has to come back in 5 years when she becomes a citizen, she di not even go through her paper work, there were foreigners there and i am certain that they were not US citizens. mr. Bloomberg need to look into these cases, there are genuine people who needs a little help jst to get food to have their family going. that’s all this lady needed was FS to buy food for her family but was turned away. i felt her pain but there was nothing that I could have done, Because the young lady was adamant in not interviewing her until the next 4 years, Is is that she and her family should be left to die???????????

    • CSI

      Thats’s a different case. Because she is not a citizen. But im sure if the people who dont really need it will wake up and stop wasting people’s time and money they would have reconsidered how the system is run and help the people who are working on becoming citizens. The whole thing about food stamps that it’s suppose to be a temporary thing until people could get back on their feet. Just like unemployment. Unless they are really ill and not able to work.And that should be confirmed by doctors.

  • CSI

    I guess someone got offended by the truth and reported it. Well. Here it is in another sense. Don’t blame people who work for their money for the people who are getting lay off. It happens. If you want to blame someone for lay offs, budget cuts and higher taxes. Blame all the people who are on wale fare who are cheating the system. All the lazy obese people who all they do is buy more garbage to eat then healthier foods. Feeding their children pre made foods because they are to lazy to cook. Passing down the bad habits. Blame the drug addicts who stand in front of super markets looking for people to give them cash in trade of buying food with their EBT cards. Thats who to blame. All these people are capable of working or doing something to improve these lives But they choose to lay back and take advantage of tax dollars. Be real with your selves.

  • Michael Keville

    Let’s have a benefit for all these lazy, do nothing, overpriced public sector employees. NOT! I’m sick and tired of paying for their ridiculous pension and health benefits. They all need to get a grip on reality. Private sectors employees have no sympathy for them.

    • AA

      @ Michael, what the hell are you talking about? So my husband who is on the job for 22 years should not be entitled to a pension when he retires? I don’t think so. How about getting rid of all the crooks in the government beginning with Michael Bloomberg?

      • re. AA

        As you can see, Michael, lazy parasites never get it.

  • John O'Keefe

    Hey Rocky that sounds reasonable but what if :”Wall Street” moves like so many hedge funds have? NY would really be up the creek then. The only real long term solution is to get people off entitlement programs and to work. They would have better self esteme and be become better educated. They would then understand, care and voice there opinions about the budget.

  • Rocky


    • Wall Street Employee


blog comments powered by Disqus
Charles Osgood Event

Listen Live