Skip to main content

Malloy To Wall Street: Take This

Governor Dannel Malloy has rented a trading floor for five years at $20 million, according to a brief piece in the Wall Street Journal:
“In his latest attempt to save jobs and keep businesses in Connecticut, Gov. Dannel Malloy on Tuesday announced $20 million of incentives to keep UBS AG's flagship trading floor and other operations in this city.”
Labels:

Comments

dmoelling said…
Didn't I also read that due to poor financial results UBS was dropping adding new space in Manhattan? So they snookered O'l Dannel for $20M for something they were going to do anyway.
9:17 AM
Don Pesci said…
Likely.
9:19 AM
Pauldz said…
How much is this costing taxpayers per employee? $50,000, more? So Malloy's idea of shared sacrifice is to have everyone pay more (except the public employee unions) and then he gives money to either well-connected constituencies, or those with leverage - like UBS.
1:37 PM
dmoelling said…
CT bet big on the finance industry to make up for chasing everything else out. To even appear to lose UBS from his hometown would be bad for Malloy. Fortunately he can dip into the public purse.
3:32 PM
Don Pesci said…
All the indicators suggest that Connecticut’s debt will grow. Certainly debt is not diminished through tax increases that are not applied to liquidating the state’s permanent debt. The nearly $1 billion artificial surplus built into the budget has given the Malloy administration the opportunity to engage in a putative jobs program. And much of the tax overcharge – that is what a surplus is – will be (excuse my language) pissed away on boondoggles projects like the UConn Health Center and the costly and destructive bus way project. The state now is being bribed by Big Business, though, of course, Mr. Malloy invited the bribery. The money supplied by the Malloy administration to UBS represents dollars taken from Main Street to support Wall Street. There is no better way to put it. I’m waiting for some Republican to say it. But I am not holding my breath. This is welfare for Wall Street at its worst. Ordinarily, we could expect progressive Democrats to raise a holler about all this, but Governor Jodi Rell has left the building, and Mr. Malloy is a progressive. So – hush!
4:24 PM
Post a Comment

Popular posts from this blog

Donna

I am writing this for members of my family, and for others who may be interested.   My twin sister Donna died a few hours ago of stage three lung cancer. The end came quickly and somewhat unexpectedly.   She was preceded in death by Lisa Pesci, my brother’s daughter, a woman of great courage who died still full of years, and my sister’s husband Craig Tobey Senior, who left her at a young age with a great gift: her accomplished son, Craig Tobey Jr.   My sister was a woman of great strength, persistence and humor. To the end, she loved life and those who loved her.   Her son Craig, a mere sapling when his father died, has grown up strong and straight. There is no crookedness in him. Thanks to Donna’s persistence and his own native talents, he graduated from Yale, taught school in Japan, there married Miyuki, a blessing from God. They moved to California – when that state, I may add, was yet full of opportunity – and both began to carve a living for them...
Post a Comment
Read more

The PURA soap opera continues in Connecticut: Business eyeing the exit signs

The trouble at PURA and the two energy companies it oversees began – ages ago, it now seems – with the elevation of Marissa Gillett to the chairpersonship of Connecticut’s Public Utilities Regulation Authority.   Connecticut Commentary has previously weighed in on the controversy: PURA Pulls The Plug on November 20, 2019; The High Cost of Energy, Three Strikes and You’re Out? on December 21, 2024; PURA Head Butts the Economic Marketplace on January 3, 2025; Lamont Surprised at Suit Brought Against PURA on February 3, 2025; and Lamont’s Pillow Talk on February 22, 2025:   The melodrama full of pratfalls continues to unfold awkwardly.   It should come as no surprise that Gillett has changed the nature and practice of the state agency. She has targeted two of Connecticut’s energy facilitators – Eversource and Avangrid -- as having in the past overcharged the state for services rendered. Thanks to the Democrat controlled General Assembly, Connecticut is no l...
Post a Comment
Read more

The Murphy Thingy

It’s the New York Post , and so there are pictures. One shows Connecticut Senator Chris Murphy canoodling with “Courier Newsroom publisher Tara McGowan, 39, last Monday by the bar at the Red Hen, located just one mile north of Capitol Hill.”   The canoodle occurred one day or night prior to Murphy’s well-advertised absence from President Donald Trump’s recent Joint Address to Congress.   Murphy has said attendance at what was essentially a “campaign rally” involving the whole U.S. Congress – though Democrat congresspersons signaled their displeasure at the event by stonily sitting on their hands during the applause lines – was inconsistent with his dignity as a significant part of the permanent opposition to Trump.   Reaching for his moral Glock Murphy recently told the Hartford Courant that Democrat Party opposition to President Donald Trump should be unrelenting and unforgiving: “I think people won’t trust you if you run a campaign saying that if Donald Trump is ...
Post a Comment
Read more