Why didn’t we think of this?
January 22, 2010 | federal legislation, industry | Comments (0)New York’s Mayor Bloomberg criticizes Obama’s financial regulatory plan:
…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.
“If that’s the case then we’ll have to lay off people because it will really hurt our industry,” Bloomberg said.
Yes, and if payday lending and other small loans are regulated out of business, hundreds of thousands of people will be hurt as well.
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