Buchanan, NY — An uncontrollable radioactive flow from the Indian Point nuclear power plant continues leaking into groundwater, which leads to the Hudson River, raising the specter of a Fukushima-like disaster only 25 miles from New York City.
The Indian Point nuclear plant is located on the Hudson River, approximately 25 miles North of NYC, and serves the electrical needs of an estimated 2 million people. Last month, while preparing a reactor for refueling, workers accidentally spilled some contaminated water, containing the radioactive hydrogen isotope tritium, causing a massive radiation spike in groundwater monitoring wells, with one well’s radioactivity increasing by as much as 65,000 percent. Continue reading »
– 5/16/2015 — New York State BANNING fracking due to earthquake + environmental threat (Dutchsinse, May 16, 2015):
This is huge news, and a large victory for those of us who have been warning state (and national) policy makers about the seismic threat associated with “fracking”.
New York State is set to fully ban the process of hydraulic fracturing in the Marcellus shale deposit.
The ban is being set due to the threat of earthquakes, and methane plume releases.
Several of my viewers (and readers) will remember back to 2012, when a fresh movement to ban fracking in New York state was developed by “Artists against fracking”, which included Sean Lennon, Yoko Ono, and several other well known musicians, artists, and actors. Continue reading »
– Are you awake yet? Government-enforced medical quarantines just went from ‘conspiracy theory’ to official policy in NJ and NY (Natural News, Oct 25, 2014):
The states of New York and New Jersey have leapfrogged federal guidelines and set up their own mandatory 21-day quarantine requirements for arriving passengers who had direct contact with Ebola patients in West Africa.
“The patients with the highest level of possible exposure will be automatically quarantined for 21 days at a government-regulated facility,” reports CBS News.  Government-run quarantine camps, in other words, are now a present-day reality in America.
Continue reading »
– New York, New Jersey Consider Mandatory Quarantines In Ebola Response (ZeroHedge, Oct 24, 2014):
Despite the constant confirmation that New York “is prepared, and has been prepared for months” for an Ebola outbreak, it appears Governor Cuomo and NJ’s Christie are more concerned than they are letting on. Having earlier admitted that the CDC’s screening guidelines are “insufficient” for New York regions’ population density, Reuters reports that Cuomo and Christie are considering “enhanced screening” where “all healthcare workers will mandatorily quarantined.” Cue “state of emergency” proclamation and civili liberties ‘interrupted’...
- *EBOLA SCREENING WILL BE STRENGTHENED AT NY AIRPORTS, SAYS CNBC
- *NY AIRPORT SCREENING WILL GO BEYOND CDC REQUIREMENTS: CNBC
- *NY AIRPORTS TO QUARANTINE ALL HC WORKERS FROM HI RISK NATIONS
- *JFK, NEWARK TO HAVE ADDITIONAL SCREENING FOR EBOLA: CHRISTIE
- *STEPS INCLUDE MANDATORY QUARANTINE FOR MED. SERVICE PROVIDERS
- *MEDICS BACK FROM EBOLA COUNTRIES TO BE QUARANTINED: CHRISTIE
- *NEWARK, JFK HEALTH DEPTS.TO DETERMINE QUARANTINE NEEDS:CHRISTIE
* * *
New York Governor Andrew Cuomo announced Friday that he and New Jersey Governor Chris Christie are planning to increase current screening procedures for people travelling from Ebola-affected regions.
Depending on an individual’s risk level—exposure to infected individuals and countries visited—a mandatory 21-day quarantine could be instituted, Cuomo said.
All medical workers from Ebola-affected countries will be subject to a quarantine, said Dr. Howard Zucker, acting commissioner of health for New York State. Cuomo said voluntary quarantine is not sufficient, and that it is “almost an oxymoron.” Continue reading »
– BREAKING: Up To One Million New Yorkers Seize Opportunity To Not Register Their Firearms Ahead of NY SAFE ACT Deadline (Bearing Arms, April 14, 2014):
The April 15 deadline to register firearms deemed “assault weapons” under Governor Cuomo’s NY SAFE Act has been met by hordes of New York Gun owners not rushing to register firearms, and the ceremonial burning of registration forms.
Unofficial estimates suggest that as few as 3,000-5,000 of the estimated 1-2 million firearms that have been redefined as “assault weapons” under New York’s utterly arbitrary and blatantly unconstitutional law
have been registered. Literally dozens of gun owners in the state of 19.57 million (2012) residents will take the opportunity to register today.
The alleged burglar is seen trying to enter a door. The burglar then pulls out a gun, and a flash is seen that appears to be the burglar firing a shot into the home.
Youssef Abdel-Gawad’s attorney says he came to the door with a rifle and returned fire at the burglar and his alleged accomplices, striking one of them.
Gawad has been charged with manslaughter.
– Youssef Abdel-Gawad, of Huntington Station, charged with manslaughter for shooting alleged burglar (News 12 Long Island, March 3, 2014):
RIVERHEAD – A Huntington Station man has been indicted on manslaughter charges for shooting an alleged home burglar who later died, but his attorney says it’s a clear case of self-defense.
Youssef Abdel-Gawad says a man with a gun was attempting to break into his Huntington Station home back in August. His family shared surveillance video of the incident with News 12 Long Island, and in it, the alleged burglar is seen trying to enter a door. The burglar then pulls out a gun, and a flash is seen that appears to be the burglar firing a shot into the home.
Youssef Abdel-Gawad’s attorney says he came to the door with a rifle and returned fire at the burglar and his alleged accomplices, striking one of them. The accomplice later died.
YouTube Added: Feb 22, 2014
New York state authorities are planning to step-up surveillance – this time, on school kids. The program, which is to be launched state-wide, is supposed to gather information on students starting from the age of five. And as RT’s Marina Portnaya reports, the move is finding little support among parents.
– Gun Owners Refuse to Register Under New York Law (The New American, Jan 25, 2013):
After Democrats in New York rammed a sweeping assault on the right to keep and bear arms through the legislature that failed to exempt police officers from the draconian restrictions, gun owners and even some lawmakers are planning what has been dubbed potentially the largest act of civil disobedience in state history. According to news reports, gun rights activists are urging everyone to defy far-left Governor Andrew Cuomo’s new registration mandate while daring authorities to “come and take it.”
– New York enacts tougher gun laws as Obama pursues same goal (The Business Review, Jan 16, 2013):
New York state widened the scope of its gun-control laws Tuesday, becoming the first state to try to clamp down on assault weapons in the aftermath of the school shootings in Newtown, Connecticut.
In 20 hours, the expansive bill went from being printed and introduced in the Legislature to being signed into law—prompting many gun owners to flood gun stores and stock up. Today, President Obama is set to unveil his own gun-control plans.
– What Does It Mean that Residents in All 50 States Have Filed Petitions to Secede? (ZeroHedge, Nov 16, 2012):
A lot of attention is being given to the fact that residents in all 50 states have filed petitions to secede from the United States.
Daily Caller reports:
By 6:00 a.m. EST Wednesday, more than 675,000 digital signatures appeared on 69 separate secession petitions covering all 50 states, according to a Daily Caller analysis of requests lodged with the White House’s “We the People” online petition system.
Petitions from Alabama, Florida, Georgia, Louisiana, North Carolina, Tennessee and Texas residents have accrued at least 25,000 signatures, the number the Obama administration says it will reward with a staff review of online proposals. (RELATED: Will Texas secede? Petition triggers White House review)
The Texas petition leads all others by a wide margin.
States whose active petitions have not yet reached the 25,000 signature threshold include Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.
Fourteen states are represented by at least two competing petitions. The extra efforts from two states — Missouri and South Carolina — would add enough petitions to warrant reviews by the Obama administration if they were combined into petitions launched earlier.
Tags: Alaska, Arizona, Arkansas, Barack Obama, California, Collapse, Colorado, Connecticut, Debt, Delaware, Dollar, Economy, Global News, Government, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Obama administration, Ohio, Oklahoma, Oregon, Pennsylvania, Politics, Rhode Island, Ron Paul, Society, South Carolina, South Dakota, U.S., Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
– 20 US states file petitions to secede (The News, Nov 12, 2012):
WASHINGTON: At least 20 US states have filed petitions to secede following the re-election of Barack Obama.
Following the re-election, several petitions surfaced requesting the Obama administration to peacefully grant the applied state to withdraw from the United States of America in order to create their own government.
Louisiana was the first state to file a petition followed by Texas.
States with secession-related petitions on the White House website now include Alabama, Arkansas, Colorado, Florida, Georgia, Indiana, Kentucky, Michigan, Mississippi, Missouri, Montana, New Jersey, New York, North Carolina, North Dakota, Oregon, South Carolina and Tennessee.
Tags: Alabama, Arkansas, Barack Obama, Colorado, Florida, Georgia, Global News, Government, Indiana, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, New Jersey, New York, North Carolina, North Dakota, Obama administration, Oregon, Politics, Society, South Carolina, Tennessee, Texas, U.S.
– After The Flood Comes The Freeze: “Tens Of Thousands Need Housing” Says Cuomo, As Nor’Easter Approaches (ZeroHedge, Nov 4, 2012):
First the flood, now the freeze (and the lack of fuel and gas and heating just making it much worse). And for tens of thousands of residents of New York and New Jersey this means that as many as 40,000 will need to find alternative housing, especially ahead of Wednesday when a Nor’easter formation is expected to hit the Tristate area and bring even more freezing rain and cold to the region.
From Reuters: “Tens of thousands of people affected by superstorm Sandy could soon need housing as cold weather descends on the state of New York, Governor Andrew Cuomo said on Sunday. Cuomo, in a televised press conference nearly a week after the storm hit the U.S. East Coast, said the fuel shortages are improving but problems will persist for “a number of days.”” Elsewhere, and also from Reuters: “Victims of superstorm Sandy on the U.S. East Coast struggled against the cold early on Sunday amid fuel shortages and power outages even as officials fretted about getting voters displaced by the storm to polling stations for Tuesday’s presidential election. Overnight, near-freezing temperatures gripped the U.S. northeast. At least two more victims were found in New Jersey, one dead of hypothermia, as the overall death toll from one of worst storms in U.S. history climbed to at least 112. Fuel supplies continued to rumble toward disaster zones and electricity was slowly returning to darkened neighborhoods after a storm that hit the coast last Monday. New York Mayor Michael Bloomberg said it would be days before power is fully restored and fuel shortages end.”
– New York State Set to Add All Convict DNA to Its Database (New York Times, Mar 13, 2012):
ALBANY — New York is poised to establish one of the most expansive DNA databases in the nation, requiring people convicted of everything from fare beating to first-degree murder to provide samples of their DNA to the state.
On Tuesday, Gov. Andrew M. Cuomo and state lawmakers were putting the finishing touches on a deal to establish a so-called all-crimes DNA database, a move that is supported by all of the state’s 62 district attorneys and 58 sheriffs, as well as 400 police chiefs. New York already collects DNA from convicted felons and some people convicted of misdemeanors, but prosecutors say collecting DNA from all people convicted of misdemeanors will help them identify suspects of more violent crimes, and, in some cases, exonerate people wrongly accused.
“Every single time we’ve expanded the DNA database, we have shown how effective it is in convicting people who commit crimes, and we’ve also shown that it can be used to exonerate the innocent,” said Richard M. Aborn, the president of the Citizens Crime Commission.
Vaccine rights attorney Patricia Finn is being targeted by the Ninth Judicial District of New York State, which has threatened to strip her of her license to practice law and even file criminal charges against her. Finn is one of several “vaccine rights” attorneys across America who helps parents assert their rights to protect their children from potentially deadly vaccines. She’s considered a hero by many, but a villain by the status quo for daring to stand up against the vaccine-pimping medical police state that exists in America today.
I personally interviewed Patricia Finn for InfoWars Nightly News last night (February 27, 2012), and during that interview I saw and read the documents that contain the charges being leveled against her. Watch that full video interview at:
One document described her vaccine rights advocacy as “threatening the public interest,” asserting that her helping parents legally and ethically avoid toxic vaccines somehow puts the public at risk. This accusation makes absolutely no logical sense, of course, given that even the vaccine pushers claim their vaccines offer absolute and total immunity against infectious disease. Therefore, how can an unvaccinated child ever threaten the health of a vaccinated child?
New York demands Patricia Finn surrender her list of clients
– Snowstorm pelts East Coast, cuts power to more than 2M (USA Today, Oct. 30, 2011):
STATE COLLEGE, Pa. (AP) – A snowstorm with a ferocity more familiar in February than October socked the Northeast over the weekend, knocking out power to 2.3 million, snarling air and highway travel and dumping more than 2 feet of snow in a few spots as it slowly moved north out of New England. Officials warned it could be days before many see electricity restored.
The combination of heavy, wet snow, leaf-laden trees and frigid, gusting winds brought down limbs and power lines. At least three deaths were blamed on the weather, and states of emergency were declared in New Jersey, Connecticut, Massachusetts and parts of New York.
“If you are without power, you should expect to be without power for a prolonged period of time,” Connecticut Gov. Dannel P. Malloy said Saturday night.
The storm worsened as it moved north, and communities in western Massachusetts were among the hardest hit. Snowfall totals topped 27 inches in Plainfield, and nearby Windsor had gotten 26 inches by early Sunday.
Scriba, NY – The owners of the Nine Mile Point Unit 1 this morning are trying to figure out why the recently refueled nuclear reactor automatically shut down at 8:51 p.m. Monday.
The plant responded according to design and automatically shut down with all rods that control the nuclear reaction fully inserting into the reactor, Constellation Energy Nuclear Group said this morning.
“The plant is in a safe and stable condition,” the company said in a news release.
HAARP is real:
– US Gov. Took Down HAARP Website To Conceal Evidence of US Weather Modification And (Japan!) Earthquake Inducing Warfare – Update April 21, 2011: After 3 Weeks Of Pressure From The International Community The HAARP Website Is Up Again
Watertown, Martinsburg New York, within 24-48 hours from now.. tornados and severe weather will hit the center of the ring area.
Harper Kansas .. no pun intended on HAARP play on words… in Kansas at I-35 east of Caldwell .. at the state line exactly = tornado or VERY severe weather after this current storm blows through.. in 24-48 hours from now.
NEW YORK (AP) — Bone-chilling cold has prompted schools around the Northeast to delay openings and some canceled classes all together on Monday, as an Arctic cold front extended its stay in the region.
Schools in western and northeastern Pennsylvania, across upstate New York and parts of Vermont and New Hampshire closed their doors or delayed openings to protect students from temperatures that dropped in some locations as low as 25 degrees below zero or even colder.
The wind chill in some areas of New England was expected to make it feel as cold as 50 degrees below zero.
The cold snap was linked to at least two weekend deaths in the Northeast, including that of a woman whose frozen body was found in a driveway.
In upstate New York, the National Weather Service issued wind chill advisories and warnings for much of the region, including the Adirondacks where the low was 36 below in Saranac Lake early Monday morning.
Wind chill advisories were issued for much of western New York, and forecasters in some northern areas said it felt like 40 below with the wind chill.
Embattled Governor: $1.5 Billion In School Aid Next To Be Halted
NEW YORK (CBS) ― For hundreds of thousands of New Yorkers, the check won’t be in the mail — at least not on time. New York State has stopped paying tax refunds and won’t start again until next month.
The tax refund delay is part of a bigger cash crunch.
Message to New Yorkers: don’t start spending your tax refund money because it’s going to be delayed.
Half a billion dollars’ worth of refund checks were put on hold last Friday, and state beancounters won’t start sending you your money until at least April 1.
“I apologize that we had to do this. I hope it serves notice on the public of how serious our financial situation is,” Gov. David Paterson said.
Several hundred thousand New York taxpayers will be affected with most getting an average refund of $1,000. People who filed in late February and early March might have to wait as long as six weeks till the checks are in the mail.
The governor said the move was unavoidable. He’s also planning to withhold $1.5 billion in school payments and aid to local governments. Continue reading »
(AFP) — Kariana, aged three, has a lonely existence in the New York homeless shelter her parents moved into last year. Lonely, but not alone — there are nearly 16,000 children just like her.
Homelessness in New York has soared as a result of the damaged US economy and children make up almost half of that growing population.
Shivering outside the forbidding gates to a Brooklyn shelter, Kariana’s petite mother, Karen Diaz, said she’d been homeless since arriving three months ago from Puerto Rico with her husband Pedro, Kariana, and a second daughter, aged six.
“We thought we would be here just for 10 days and get some place better, but time flew by,” said Diaz, 24.
Guards would not allow a reporter inside the building, a former hospital now named the Auburn Family Shelter.
Diaz described a rough life of tasteless food, “disgusting, dirty” communal toilets, bunk beds in their family room, and “scary” fellow residents.
“There are no friends for the girls. There are a lot of sick people,” Diaz said, as Kariana fidgeted in the bitter cold. “We keep to ourselves.”
With unemployment running over 10 percent in New York, sky high house prices, and icy winter temperatures, the family is lucky to have a roof while Diaz’s husband searches for a security guard job. Continue reading »
“Mr. Geithner has been wrong about everything for the last 15 years.”
Added: 12. December 2009
Tags: Barack Obama, Ben Bernanke, Debt, Dollar, Dubai, Economy, Fed, Federal Reserve, Global News, Gold, Government, Greece, Inflation, Ireland, Jim Rogers, Keynesianism, New York, Obama administration, Politics, Recession, Spain, Tiger Woods, Timothy Geithner, Treasury, U.S.
– Sour ‘stimulus’ plan reduces employment (OneNewsNow)
– Featherbedding stimulus job numbers (Washington Examiner)
NY jobs don’t add up
Just 300 stimulus hires
The feds and the city are using some funny math to inflate the number of jobs created by the $787 billion stimulus program so far — with the tally including thousands of brief, low-wage summer jobs for youths.
New reports just released by the Obama administration claim New York state has “created/saved” 40,625 jobs — including 25,526 in the city.
A spokesman for Mayor Bloomberg told The Post that the city had “created” 3,000 jobs and that the rest represented already employed teachers and other city employees who faced possible layoffs without the federal “shot in the arm.”
The spokesman could not immediately give a breakdown of what the new jobs entailed. But a memo issued by Deputy Mayor Edward Skyler suggested the number of stable new jobs was under 300.
The memo had a footnote explaining that the city used a formula required by the feds to count 2,882 “full-time-equivalent” as created jobs.
That number was based on 19,518 youths who took part in a summer employment program, Skyler said. The seven-week program paid minimum wage — less than $8 per hour — for residents age 14 to 24 to work in local businesses, public facilities and nonprofit groups and included some training, officials said.
NEW YORK (CNN) — A New York state Supreme Court judge Friday granted a temporary restraining order against a requirement that all health care workers in the state get H1N1 flu vaccinations.
The state health commissioner had said the workers had to be vaccinated against both seasonal and H1N1 flu by November 30 or risk disciplinary action.
The Public Employees Federation filed suit, and Judge Thomas McNamara on Friday granted the restraining order, which will be in effect at least until the State Supreme Court can review the case during a hearing scheduled for October 30.
In a news release, federation President Kenneth Brynien called the decision “a big step in the right direction.”
Peter Banks, a council leader for the organization, added that its members “are not against the vaccination program; what we are against is the mandating, putting conditions of service over an unproven vaccine.”
Date: 15th Oct 09
– Police State: Cop Caught On Camera beating special education student for not having his shirt tucked in
– Police State: Florida cop attempts drive-by Tasering, runs over suspect
– Police State: 14-Year-Old Girl Tasered In The Head
– Police State: Cops Taser a 76-Year-Old Tractor Driver in Parade
– Police State: Mother Watched Son Tasered To Death
– Police State: Cops pepperspray, taser mentally challenged, deaf man, while using the toilet
– Police State: Cops Taser Child 19 Times Leaving Him in a Coma
– Police State: Cop Tasers Mom In Front of Her Children
– Unedited Dash Cam Footage of Grandmother Being Tased
– Taser use to obtain DNA not unconstitutional: NIAGARA COURTS RULING
– Prison officer zaps children with 50,000-volt stun gun ‘to show them what a day at work is like’
– Top cop fired for allegedly using Taser on wife
– Ex-NFL Player Tasered For Pointing At Cop
It was created 40 years ago to provide health care for the poorest New Yorkers, offering a lifeline to those who could not afford to have a baby or a heart attack. But in the decades since, New York State’s Medicaid program has also become a $44.5 billion target for the unscrupulous and the opportunistic.
It has drawn dentists like Dr. Dolly Rosen, who within 12 months somehow built the state’s biggest Medicaid dental practice out of a Brooklyn storefront, where she claimed to have performed as many as 991 procedures a day in 2003. After The New York Times discovered her extraordinary billings through a computer analysis and questioned the state about them, Dr. Rosen and two associates were indicted on charges of stealing more than $1 million from the program.
It has drawn van services, intended as medical transportation for patients who cannot walk unaided, that regularly picked up scores of people who walked quite easily when a reporter was watching nearby. In cooperation with medical offices that order these services, the ambulettes typically cost the taxpayers more than $50 a round trip, adding up to $200 million a year. In some cases, the rides that the state paid for may never have taken place.
School officials around the state have enrolled tens of thousands of low-income students in speech therapy without the required evaluation, garnering more than $1 billion in questionable Medicaid payments for their districts. One Buffalo school official sent 4,434 students into speech therapy in a single day without talking to them or reviewing their records, according to federal investigators.
ST. PAUL, Minn. – Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.
Valuables like these are in for a closer look as 44 states cope with deficits.
Like families pawning the silver to get through a tight spot, states such as Minnesota, New York, Massachusetts and Illinois are thinking of selling or leasing toll roads, parks, lotteries and other assets to raise desperately needed cash.
The patient (U.S.) is dying because of poisonous and deadly medication administered by the Federal Reserve and the U.S. Government:
– Lindsey Williams: The Dollar And The US Will Collapse; Saudi Arabia And Dubai Will Fall; US Will Be Third World Country; The Greatest Depression Is Coming
– Gerald Celente: The Greatest Depression
– Analyst: One Third Of Banks Could Collapse In 2009
– Peter Schiff: “There is going to be an inflationary depression in the US”
– Marc Faber: “2009 is going to be a catastrophe”
– Ron Paul – TRUTH on Government Fraud funds (12/22/08)
– Economic Collapse of 2009 – Greater than Great Depression of 1929
– U.S. Economy: Housing Prices Collapse at Near-Depression Pace
– Official says California could be broke in 2 months
– World faces “total” financial meltdown: Bank of Spain chief
– The Neo-Alchemy of the Federal Reserve by Ron Paul
– Jim Rogers: If Obamanomics happens it’s all over
– Jim Rogers: “America is out of control”
– Jim Rogers: The Larger US Banks Are Bankrupt, Totally Bankrupt
– Interview with Peter Schiff (12/13/08)
– Interview: Peter Schiff still grim on future
– Peter Schiff Was Right 2006 – 2007 (2nd Edition)
– Peter Schiff: Low Rates, Big Problems
– Peter Schiff: The Economic Crisis Is Only Just Beginning (Nov. 24, 2008)
– Federal Reserve Refuses to Disclose Recipients of $2 Trillion
Minnesota Gov. Tim Pawlenty has hinted that his January budget proposal will include proposals to privatize some of what the state owns or does. The Republican is looking for cash to help close a $5.27 billion deficit without raising taxes.
GOP lawmakers are pushing to privatize the Minneapolis-St. Paul International Airport and the state lottery. Both steps require a higher authority – federal legislation in the case of the airport, a voter-approved constitutional amendment for the lottery. But one lawmaker estimated an airport deal could bring in at least $2.5 billion, and the lottery $500 million.
With Wall Street hemorrhaging jobs and assets, even many of the wealthiest players are retrenching. Others, like the Lehman Brothers bankers who borrowed against their millions in stock, have lost everything. Hedge-fund managers try to sell their luxury homes, while trophy wives are hocking their jewelry. The pain is being felt on St. Barth’s and at Sotheby’s, on benefit-gala committees and at the East Hampton Airport, as the world of the Big Rich collapses, its culture in shock and its values in question.
A snapshot: East Hampton, late summer, a lawn party at a house on the ocean overlooking the dunes. The host is a prince of private equity known for dressing well. One of his guests is Steven Cohen, the publicity-shy billionaire whose SAC Capital, with $16 billion under management, is perhaps the most revered of the 10,000 or so hedge funds spawned by this giddily rich time. Nearby is Daniel Loeb, of Third Point, one of the better-known “activist” hedge funds, who hopes to move soon into a 10,700-square-foot, $45 million penthouse at l5 Central Park West, a Manhattan monument to the new gilded age. Gliding easily between them is art dealer Larry Gagosian, so successful at selling Bacons and Serras to Wall Street’s new titans-including to Cohen-that he now travels in his own private jet and has his own helicopter to take him to it.
At least 29 states plus the District of Columbia, including several of the nation’s largest states, faced an estimated $48 billion in combined shortfalls in their budgets for fiscal year 2009 (which began July 1, 2008 in most states.) At least three other states expect budget problems in fiscal year 2010.
Tags: Alabama, Arizona, Arkansas, Bubble, budget deficit, California, Connecticut, Delaware, Economy, Financial Crisis, Florida, Georgia, Government, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Nevada, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Politics, Recession, Rhode Island, South Carolina, Taxes, Taxpayers, Tennessee, U.S., Vermont, Virginia, Wisconsin