Tuesday, August 16, 2005

Goldman Sachs Shame

In yet another, typically ironic example, of his touted "five borough economic plan" the Bloomberg admnistration has literally dropped its fiscal pants in an effort to retain jobs at Goldman Sachs that weren't going anywhere in the first place. As Errol Louis' scathing column in the Daily News today points out, this Liberty Bonds giveaway, along with other goodies, is even more shameful than the ballyhooed West Side bonndoggle.

What this does effectively is to unmask the hypocrisy of the mayor's campaign rhetoric. The mayor, in his ads, is claiming that he has helped 10,000 small businesses. When we deconstruct this nonesense we find that he has opened some "centers" where government workers, of all people, will advise store owners how to be more profitable on the face of the mayor's own tax and regulatory policies.

While this basically symbolic aid is proffered to the folks in need, the big guys, who don't really need the help, get to take home actual cash subsidies. Goldman,hey didn't Andy Alper used to work there?, gets its billions and the poor merchants at the BTM, courtesy of the subsidized Steve Ross, get evicted. Sounds fair?