Financial Crisis

New York City Bracing for Lehman's Demise

lehman_bros_sign.jpg

With the sale of Lehman Brothers seen as imminent — possibly as soon as this weekend — New York's commercial real estate market is bracing itself for the loss of a key financier responsible for tens of billions of dollars in commercial loans.

"It would be one less major player," a commercial real estate finance expert at New York University Schack Institute of Real Estate, Lawrence Longua, said. "It is probably more of a psychological effect, but it is one more piece of bad news."  read more »

New York’s Next Fiscal Crisis

iStock_000005512088XSmall.jpg

Mayor Bloomberg needs to prepare the city for the crash of the Wall Street gravy train.  read more »