Lieber: Wall Street Jobs, If Not Revenue, Will Be Fine

The Bloomberg administration is bullish on the future of Wall Street.
Yes, really.
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.