Word: yorkã
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...parallels extend even to New York??s financial system. Just as Bloomberg goes on a ferocious diet after seeing an unflattering photo of himself, Wall Street has almost completely abstained from giving out loans. Considering the way banks used to court risk-taking businesses clearly unable to repay them, this is a diet of the highest magnitude. Likewise, after getting tied up in highly leveraged purchases of their own homes, American consumers have been forced to get thriftier. History Professor Niall C.D. Ferguson has even warned that New York may go the way of Venice and become just...
...city’s crevices” amidst “unbridled appetites and animal passions”—waiting “like the abysmal Charybdis to swallow Athens down.” It’s still eerie to modern ears, for though New York??s skyline may stand mostly intact, 143 stalled building sites loom over the city, and after eight years, the World Trade Center site still looks like Ground Zero. The unemployed—now over a tenth of New York City’s population—often roam...
...ancient Athenians: Love today rarely strives to be platonic. But the tension between indulgence and self-restraint does manifest itself in the way in which many Americans treat food and exercise. It’s all too common for high-achievers—whether at Harvard or in New York??to indulge in greasy food one moment and hit the gym the next...
Bloomberg is perhaps the one man with the power to temper these developments. The next four years will be critical. If he has the will and the ability to maintain New York??s standing as a key financial center—while helping ensure that Wall Street does not help cause the next global financial crisis—historians may look back on his tvhird term as an embarrassing hiccup in democracy that ultimately helped maintain New York and America’s dominance on the world stage...
...story may end in lame-duck leadership as he feasts on over-salted pizza and New York??s economy slides into irrelevance. The choice...