New York: Death of A State? » Publications » Family Security Matters

New York: Death of A State? » Publications » Family Security Matters

July 1, 2010

New York: Death of A State?

Herbert London

The sound you hear on Wall Street at noon isn’t bells chiming, but rather the death knell for New York State. The once proud Empire State that was the engine for capital investment across the country is gasping for breath. Wall Street, that paid the state’s bills, is a shell of its former self. A combination of the 9/11 attack and a credit meltdown have left Wall Street a different and less vital place. Goodbye Lehman Brothers, Bear Stearns, Merrill Lynch. Yes, this is a different place.

Upstate is no better, perhaps worse. The only economic activity in cities like Elmira can be found in state run hospitals and prisons. The citizens of these towns are ostensibly wards of the state. Taxpayer levies keep these towns afloat since there isn’t any sign of private enterprise.