Intriguing

Rudy Wants Wall Street Bonuses

Can we take this as a sign that Rudy Giuliani is not planning to run for governor in 2010? The former presidential candidate and New York mayor defended Wall Street bonuses in an interview with CNN today, citing their trickle-down effect on the city's economy. He warned that, "Those bonuses, if they are reversed, are going to cause unemployment in New York," noting that when "Wall Street has $1 billion, $2 billion in bonuses, the city had a deficit. Wall Street has $15 billion to $20 billion, New York City had a $2 billion, $3 billion surplus, and it's because that money gets spent. That money goes directly into the economy. First of all, it gets taxed as income. Secondly, it gets taxes again when somebody buys something with it."