New York City Mayor Michael Bloomberg just spent 20 minutes speaking with New York Times’ chairman Arthur Sulzberger, Jr. at the New York Forum.
Following are some of the highlights from that conversation:
– The government’s first job is to promote economic activity. Give people the ability to enjoy life, keep food on plate, roof on head.
– The big problem NY State faces is that its number one industry is finance. Washington has forgotten that the economic engine for the United States is finance. Nothing works without it. Credit derivative swaps don’t sound good, so the government decided to go after the banks. That is potentially very damaging to the country. If you want to create jobs you have to have banks willing to provide loans. You can’t have it both ways.