The bike is in better shape than its rider... and the law. (Streetsblog)

As if we needed another reminder about the need for the NYPD to investigate deadly vehicular accidents in New York City, Streetsblog recounts the tale of an accident earlier this week in East Harlem where a cyclist died. Not only was there no investigation, the NYPD’s own press shop was handing out conflicting reports to various media outlets.

Accounts differ as to how the crash unfolded. DNAinfo reported that, according to NYPD, the cyclist “was heading east with traffic on 108th Street,” and the cab driver “was traveling on 108th and had the green light … when the cyclist entered the intersection and was struck by the cab.”

Information provided by NYPD to both Streetsblog and Gothamist, however, indicates that the cyclist was traveling westbound on E. 108th (which is one-way eastbound) when he was hit by the cabbie, who was southbound on Park. The spokesperson we talked to described the crash as a “t-bone situation.” The cyclist’s age was reported by Gothamist and DNAinfo as 19, while NYPD told Streetsblog he was 18.

The victim of the accident was 19, and whether or not he was responsible for what happened, it will come as no comfort to the family that they will never know because the police department is not about to put their resources behind finding out.

And it seems unlikely they will any time soon. The mayor has been trimming the department more and more over recent years, and while he and Commissioner Ray Kelly deserve—and loudly proclaim—credit for keeping deaths both vehicular and otherwise down, the fact remains there is not enough money to go around.

If the decision is between more beat cops to keep 3- and 4-year-olds from getting hit with stray bullets and figuring out why someone died at an intersection, which course of action is the department really going to take?

Maybe if the media stopped covering these deaths as though the victims were reckless and at fault, public sentiment might turn in their favor, and thus the police would follow suit. But until that begins to happen, the victims, and their families, appear doomed to their anonymous fate.

Scissor season: Moody's is expected to begin cutting ratings on banks any day now, and Bloomberg notes the consequences: Higher funding costs, curbed lending and another thorn in the side of economic growth. According to a Moody's note last month, Italian lenders are first on the chopping block, to be followed by banks in other European countries. U.S. banks will also come in for potential downgrades, but are unlikely to see ratings changes until June.

Banks in trouble: Spain is likely to require lenders to post an additional $45 billion in collateral against loans to the construction sector, Reuters reports, raising the likelihood of another injection of public cash. The Spanish government is expected to announce new demands after a cabinet meeting on Friday.

Meanwhile, Spanish banks are pushing their debt and equity on retail customers as larger investors pull back. The Journal worries that a vicious circle may be emerging: Fearing that losses would spook individual investors, banks have put off recognizing losses, exacerbating the tenuous position of Spanish banks, and the eventual reckoning for mom and pop.

Margin-roasted: Robert Stiller was relieved of his position as Green Mountain Coffee Roasters chairman after he sold 5 million shares in the company, worth $125.5 million, in a margin call. Green Mountain's stock lost nearly half its value last week after the company reported disappointing earnings and amid calls by short sellers such as Greenlight Capital's David Einhorn, and Deutsche Bank forced Mr. Stiller to sell shares to satisfy loans secured against his Green Mountain holdings.

BofA meets: The great unwashed are expected to descend on Charlotte, North Carolina today to protest Bank of America's annual meeting, though it may be a toss-up as to whether the protestors bear the lender the most ill will. Other candidates: Recently jettisoned employees, refi applicants, holders of the company's basement-dwelling stock. In case you were worried, city officials passed an ordinance in January prohibiting items "ranging from backpacks to crowbars" at large events. Hecklers interrupted a Bank of America presentation at the Citi Financial Services conference in New York in March, chanting "bust up Bank of America before it busts up America," and at least 24 protestors were arrested at Wells Fargo's annual meeting in San Francisco last month.

Americans not wanted: Wealth managers around the world are closing the door on American clients as the start date for rules to prevent tax evasion approaches. Beginning next year, foreign financial institutions must report information about income and interest accrued to the accounts of U.S. clients, raising compliance costs and limiting the options of Americans living abroad, according to Bloomberg. The IRS is holding a May 15 hearing, which could soften the implementation of the rules.

Tech banker: Michael Grimes, the banker who managed LinkedIn, Zynga and Groupon IPOs, spent years laying the ground work for Morgan Stanley's lead role in the Facebook offering, and made his career winning over Silicon Valley with a more flexible approach to investment banking.

Red tape: And it still takes a long time to refinance a mortgage.

[Stan Honda/AFP]