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The Bloomberg Proposal

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Like many of you, Mike Bloomberg was listening with rapt attention as President Obama laid out his plan for how the banks should run, moving forward. And, in response, he has some ideas of his own, for Washington. First off, and this is just a proposal, nothing's set in stone yet-- go fuck yourselves. Second, you get our prop desks, bonuses etc, we take your salaries. Sound good? Like a fun tit-for-tat type thing? Would really like to get your thoughts on this one.

President Barack Obama's demand Thursday that Congress clamp down on the size of banks and their investments got major blowback from New York City Mayor Michael Bloomberg, who said it could cause layoffs and hurt the city. Mayor Bloomberg said the banks and Wall Street are part of the bedrock of the city's economy, and efforts to slash their business just means less tax revenue for the city, which brings up the dreaded "L" word. "I just find it sort of ironic that congressmen, senators who make more than double what the average person working in finance makes -- they're the rich ones and they're talking about trying to restrict bonuses and taxing the industries that are our lifeblood," Bloomberg said.
He added that if bankers have to put their bonuses in escrow until deals they made pan out, perhaps Congress should do the same with its own salaries.

"There's a big consequence of the legislation they pass. Maybe we should hold back their salaries for a decade or so and see whether the laws they pass work out," Bloomberg said.

Bloomberg Hammers Obama, Congress Over Bank Plan [WCBS]
Bloomberg: How about basing pay on performance in Congress? [NYP]

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Former Mayor Still Has His Finger On the Pulse Of New York, And If It Were Up To Him He'd Give The City What It Wants On Sunday: A God Damn Party

As you may have heard, things are not going so well for New York City* of late. Lower Manhattan and parts of Brooklyn have been without power for days. A hundred or so houses that once stood in Queens are now rubble. Staten Island has been destroyed. Those living uptown and in other areas that emerged relatively unscathed are dealing with survivor's guilt. In spite of all that, Mayor Bloomberg has declared that the Marathon, scheduled for Sunday will go on, a decision that has been met with considerable outrage by people who believe the considerable resources that go toward putting on the race should be put to more critical use elsewhere, that the city does not need the strain of putting up an additional 40,000 people, that the supposed economic benefit would be a drop in the bucket of what NYC needs, that the generators sitting in Central Park right now could be helping those sitting in darkness, and that considering dead bodies are still being pulled of the water, it's generally "too soon." One guy who'd beg to differ? Ed Koch. Twenty-five years out of his mayorship, he still gets these people and while the media would have you believe holding the marathon has caused an enormously heated debate, that's bull. New Yorkers want this and if Koch were still King? He'd be throwing a god damn parade come Sunday. “I’m telling you — and I think I’ve got pretty good judgment in this matter —that the people of New York City want the marathon to be run, and I applaud what the mayor is doing,” Koch told CNBC. “I think the media is creating a fuss that doesn’t exist, and that the people of New York City want this marathon,” he said on “Fast Money.” “If I were mayor, I would be doing exactly the same thing.” Koch, who served as mayor from 1978 to 1989, said that he faced the same decision when the city was near bankruptcy and still threw a ticker-tape parade for the Yankees following their World Series win. The parade came despite opposition from the media. “I said, ‘New York Times, you have your head screwed on wrong.’ What the people of New York City need is a celebration, something that will lift their spirits, and there’s nothing comparable to the marathon with respects to lifting the spirits of this city,” he said. NYC Marathon Must Go On, Ex-Mayor Koch Says [CNBC] *And the East Coast in general, Haiti, Jamaica and Cuba.