How bad is it in NYC?
It's been a long time since New York City has been through anything like this. Not since the 1970s, when the city nearly went bankrupt, has it been in this much municipal pain.
Reuters notes one sign of stress: A nearly 60 percent rise in bank robberies. One Bank of America branch near Rockefeller Center has a sign up that asks people to take off their sunglasses, hoods and hats before entering. That goes with a huge run-up in homelessness and a big slide in city revenues. The ripples from the credit crisis are gathering even more force. By one estimate, the city could lose up to 243,000 jobs from 2008 to 2010.
For more:
- here's the Reuters article
