NEW YORK (Reuters) - Neither New York City nor the state can count on a bailout from the U.S. government because it is only salvaging industries "that have a cascading impact through our economy," Mayor Michael Bloomberg said on Monday.
New York City gets 12 percent of its tax revenues from Wall Street, and could lose 48,000 jobs by next October, including likely layoffs in the related fields of banking, real estate and insurance, the state comptroller estimated on Monday.
Mayor Michael Bloomberg sees no U.S. bailout | Politics | Reuters
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