State Comptroller DiNapoli: 225,000 Jobs Could Be Lost

More depressing news: State Comptroller Thomas DiNapoli released a report saying 225,000 jobs in New York State could be lost over the next two years due to Wall Street's downturn. (Crain's New York reports, "New York City Comptroller William Thompson has predicted the city will lose 165,000 jobs, so the latest forecast by Mr. DiNapoli is the bleakest offered so far.") DiNapoli, whose reports also suggests $6.5 billion in city and state tax revenue could be lost from Wall Street, echoed Governor Paterson's request for federal help and added, "Top Wall Street executives ought to forgo bonuses during this difficult time; it's inappropriate to reward poor performance. But the public must keep in mind that bonuses paid to lower level employees are often used to purchase goods and services in other industries, which benefits the overall economy. New York will feel a lot pain from a shrunken bonus pool."