Financial Crisis

Charlotte’s Expanding Financial Web

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The takeover of Merrill Lynch by Charlotte-based Bank of America represents another step in the emergence of a true full-tilt competitor to New York as a financial capital. Already dominant in commercial banking, the acquisition places the North Carolina metropolis into the first ranks of cities in wealth management.  read more »

New York City Bracing for Lehman's Demise

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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

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