Newsday reports that the MTA has lost $2 million after it gave money to a check-cashing payroll firm that went bankrupt (the company was to convert checks to cash for MTA employees but never did). Now, Gothamist knows that the MTA is a large agency and there are many areas where money is lost, because there are so many levels of bureaucracy in trying to run a great public transportation system for the city. But it's just that when we hear about things like this, we get very annoyed and crazy at Chairman Peter Kalikow, because measures to make up that money trickle down to MTA employees not getting raises or benefits, or certain transit improvements being delayed. Thanks goodness for the Straphangers.

The September Flash Budgetwatch for the MTA.