Read this morning that banks in New York city have been looking for reasons to leave the Big Apple for years due to high expenses. The protests provide more fuel to that idea. Ironically, it will probably by the pubic service unions of New York, which have been supporting the OWS movement, that will be hurt most by this departure.
“Wall Street Exodus Begins?”
From the article:
This is a good thing for America, but it ruinous for New York. The big apple’s “luxury city” revitalization has been built on the back of its one successful industry. If Wall Street leaves, New York will have a much bigger problem on its hand then a few hundred angry kids in Zucotti Park, and the state and municipal employee unions who are enthusiastically participating in OWS protests will face a Rhode Island style meltdown.
If not familiar with Rhode Islands financial dire straights ~
“Rhode Island: Athens of America?”