“We need the New York City Mayor more than he needs us.” In these tough and complex financial/economic times we are fortunate to have Mayor Bloomberg among us with his expertise and experience in money matters. While may think the $700 billion bailout is a solution, it is really just the beginning.
The only person around to guide/navigate us through the difficult times ahead is Mayor Michael Bloomberg; privately he proved his case already. What is needed is for the people and the City council to understand or see the Wall Street and worldwide financial crisis with its potentially severe impact of the city demands his steady hand thoroughly sound, tough business decisions. The mayor can initiate instinctive significant financial strategies with the new lengthy financial regulations in context to the Wall Street bailout and the City. The leadership change at City Hall will not necessarily address the financial and economic issues of concern we are confronted with clarity insofar as we know, the mayor always acted in the public interest or he doesn’t need private campaign contributions and doesn’t owe big business favors or explanations. What we need is invaluable and irreplaceable economic guidance, the financial crisis has exploded far beyond Wall Street and will continue. The City term limits law was set by two referendums in 1993 and 1996. However, the law doesn’t specifically ban the Council from amending it. We are confident that Mayor Bloomberg can deal and solve the enormous challenges with globalized connections we face, he showed a clear grasp with details what matters most. These are extraordinary times. We are in the midst of a financial emergency. The mayor can confront them with solutions and make a difference.
He should not be allowed to walk away from the City, misgivings or outrage from others will not help the financial crisis and its relevance to our City-State and worldwide problems and uncertainty.
The mayor understands that with financial discipline in place, it should help weather the fallout from the Wall Street mess and turn our fortunes around. Besides, he started a lot of projects beneficial to the city people, he wants to see them through. The real global meltdown has yet to come, but when it does, Mayor Bloomberg will be able to deal with the crisis of confidence and stock and credit market consequences, etc.
Alfred B. Rayo
Institute for Strategic Studies- Research Center for Peace and Democratic Justice