The Bloomberg administration is bullish on the future of Wall Street.
Bob Lieber, the deputy mayor for economic development and a former Lehman Brothers executive himself (he left when times were still good), was asked at a New York Building Congress forum on Tuesday morning what the Bloomberg administration was doing to look past the financial industry as the main driver of the city’s economy.
His response: “I’m very bullish about financial services.”
“We’ve seen boom-and-bust cycles around this industry before,” he added. “Simplistically, I think the model for financial services is sound. I think the model of a publicly owned propriety trading firm taking huge bets with incredible leverage is not a good model.
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