Why New York needs its own state bank
Regarding Carolyn Maloney Congress Member and Council Member Dan Garodnick’s letter on “Why NY needs the Export-Import Bank,” T&V, June 25), I would like to mention the importance of having our own Community or State Bank in New York. This is what Mr. Les Leopold, executive director of the Labor Institute in New York, an author of “How to Make a Million Dollars an Hour: Why Hedge Funds Get Away with Siphoning Off America’s Wealth” (2013), has mentioned.
He has also written other articles like “How Billionaires Use the Government as a Tool to Destroy Companies They Have Bet Against” (April 17, 2014), “Our Most Powerful Weapon Against Wall Street? The Rise of Reverse Eminent Domain” (Dec. 15, 2013), “Is Cutthroat Capitalism Pushing a Growing Number of Baby Boomers to Suicide?” (May 10, 2013), and many other articles during the last eight years.
It is my understanding that, as of June 2015, the only state of the USA that have had its own state bank is North Dakota, since 1919. The CEO of that bank earns $250,000 a year – probably what a Wall Street bank CEO earns in one hour; hence, the student and mortgage loans there are cheap, and its main capital is probably the taxes residents pay to their own cities and state. What is more, when a business borrows money from their state bank, they are committed to create certain number of jobs with specific salaries.
Meanwhile, the rest of the states – like our New York – delivers all the millions of dollars of our cities and state taxes to the corrupted business banks in Wall Street. And the IRS does the same with the trillions of dollars they get from the whole working class of the USA every year, and pays each CEO of those banks millions of dollars each year – in salaries and commissions – just to keep an eye on that fortune, without any responsibility to make that money produce or create a single job to benefit the working class in this country. I believe that if that money would be robbed, an insurance company would pay a percentage of it.
Since March of this year, 2015, I have mentioned this idea of a New York Bank to some politicians at my political club and, on June 24, at the “High Anxiety” panel discussion hosted by AARP and City & State with Angela Houghton, senior research advisor at AARP; Scott Evans, chief investment officer at the New York City Comptroller’s Office; Jo-Ann Yoo, executive director of the Asian American Federation, and other experts in New York City Baruch College.
The panelists at this event recommend the Boomer and X generations save for retirement, a solution that seems ironic to me since many of them cannot even get a job after they graduate from college.
When Texas Representative, Republican Jeb Hensarling, chairman of the Congress Finance Committee, decided to let the Ex-Im Bank expire while he went on vacation last June, he probably was considering how to make the Obama Administration look bad on its economic improvement.
I cannot forget that the Republican candidate in 2012 mentioned “he did not care for the 47 percent citizens who needed to work,” because I am one of them.
Alicia Zanelli, ST
Two Cuomos and one de Blasio
I admired Mario and wondered why he didn’t run in any Democratic presidential primaries. More of a statesman than a pol.
Then Andrew: sounded good (I guess due to his name) and for a while he seemed to be OK. His mantra was Albany corruption. So, he set up the Moreland Commission. But, when they approached him and his friends, he shut it down. So, during the most recent primary for governor I voted for an unknown Fordham University law professor who received an unprecedented number of votes.
Andrew is obviously quite ambitious (in the Shakespearean use of the word). His father was first generation American and helped his parents run a grocery store in Queens. Andrew seems to see himself as royalty. He loves fast cars over funding mass transit. His use of the escape of two murderous prisoners for photo ops bothered me. Many describe the governor as arrogant (and there is much evidence for this assertion). He runs TV ads speaking of what he has done for education and he isn’t now running for any office. Curious?
Then there is the well intentioned Mayor Bill de Blasio. A good man who is naïve, politically pitted against fellow Democratic governor who lacks integrity but know the pol game well. Watch the murder and other felony rates climb in New York City.
Ergo, if only we could bring back Governor Mario Cuomo and Mayor Michael Bloomberg. Well, I can dream, can’t I?
David Chowes, PCV
Young people not to blame for crime in ST
Re: “Marsh steps down from ST-PCV TA,” T&V, July 2
In this newspaper the new president of ST-PCV TA said “My contention is this: All of a sudden we were luxury housing. We weren’t really attractive (to criminals) before that.” Additionally she referred to the new younger demographic a reason for the rise in crime. “We have younger people and that’s a greater attraction to one kind of perpetrator or the next. We used to have the lowest crime rate in the city but I’m talking about before Tishman Speyer.”
I must strongly disagree with her contention for several reasons.
First and foremost, the rise in crime is due to criminals committing more crimes and not younger people. Saying it is the fault of our younger neighbors is blaming the victims. That’s incredibly unfair (not to mention that STPCV was founded by young families). Ageism is offensive and has no place in a community newspaper.
Secondly, her “facts” are wrong. If “luxury” means higher crime, then why do some of the poorest neighborhoods in NYC have the highest crime rates (Brooklyn’s East New York and Brownsville for example)? Conversely, some of the wealthiest areas have the lowest rates (Manhattan’s Sutton Place and Battery Park City for example). Our nice, thriving and vibrant community is not the reason for more crime. Criminals are.
Unfortunately this is another example of the TA driving a wedge between and new and old stabilizers and once again blaming “young” people and management for all of our challenges. Sometimes, it is not their fault and this thoughtless stereotyping of young people and their families must end.
Name withheld, ST
What about the women?
To The Editor:
I wonder why Stuyvesant Town/Peter Cooper Village management folks failed to set up a large viewing screen in the Oval to watch the Women’s World Cup games (as was done for the men’s). It would have been a great opportunity to have the community enjoy USA’s triumphant feat.
Hazel Roslyn Feldman