Bloomberg Blames 2008 Crash On Poor People

Bloomberg Blames 2008 Crash On Poor People

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Mike Bloomberg blames the 2008 crash on poor people for needing things. John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/

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Read more here: https://www.politico.com/states/new-york/albany/story/2012/04/living-wage-reminds-bloomberg-of-soviet-communism-he-says-hell-stop-it-in-court-if-he-has-to-003389

"Asked about the city’s "living wage" legislation during his regular Friday morning radio appearance on WOR, Mayor Michael Bloomberg said, "The last time we really had a big managed economy was the USSR."

On Wednesday night, City Council speaker Christine Quinn announced that negotiations were finally complete on a living wage bill that would require some recipients of large economic development subsidies to pay their employees at least $10 an hour.

Quinn calls it "the most impactful living-wage law in the United States," but experts say it will actually impact about 500 workers a year.

Even so, today, Bloomberg compared the legislation to communism and said he would veto the bill and if the veto is overridden, his administration will file a lawsuit.

"It’s interesting if you think about it," said the mayor. "The last time we really had a big managed economy was the USSR and that didn’t work out so well."

"It would be great if all jobs in the city paid a lot of money and had great benefits for the workers. Not good for the employers. But if you force that you will just drive businesses out of the city.”"

#TheDamageReport #JohnIadarola #TheYoungTurks

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