Thompson on Wall Street Crisis, ‘Permanent Job Loss’

Here’s Comptroller and mayoral candidate Bill Thompson delivering his opening remarks to the Citizens Union breakfast at the Puck Building this morning.

“It will take months, if not years, to understand the full impact of the current impact on international and financial markets,” Thompson said.

He goes on, “It’s Wednesday. The question is, what’s going to happen tomorrow and the day after that?”

Later, he said that unlike other, more cyclical financial downturns, this one could result in “permanent job loss[es]” among the city’s highest income earners.