In the 19 seventies, slum lords stopped making repairs to their buildings. The government eventually seized those buildings for unpaid taxes. But didn't want them to go back to the same landlords,. So they looked to h sma state law that allowed them to create a co operative designed to be low for low income people. It was te kind of historic transfer wealth and property in new york city. They have these income limits on them, but no asset limits. And that actually means there's kind of a perfect buyer out there, and the sort of person who would love to live in Manhattan.
Peter Quigley, President and CEO of Kelly, discusses the jobs September report and employment trends. Bloomberg News U.S. Health Care Reporter Riley Griffin explains how Merck’s Covid pill faces a risk that the virus could outsmart it. Bloomberg News Financial Investigations Reporter Caleb Melby shares his Businessweek Magazine story New York’s Real Estate Tax Breaks Are Now a Rich-Kid Loophole. Dartmouth Professor of Economics Danny Blanchflower talks about seeing a U.S. recession if the history of consumer sentiment repeats. Eric Ervin, CIO at Onramp Invest, breaks down understanding and owning cryptocurrencies. And we Drive to the Close with Alan Lancz, Research Director at www.LanczGlobal.com.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
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