Real estate in New York is like oil in Texas. Wherever land costs a lot (and pays off a lot), and wherever oil is deposited, you find bullies hurting people and raking in fortunes. Easy money always attracts loose morals.
It does so inside and outside government, both the bribe givers and the bribe takers. (What’s the difference between a bribe and a campaign contribution of millions? Time’s up.) The real state is real estate and always has been, from the days lords and kings to the present day of landlords and bank lenders.
The only antidote is to realize that natural rents belong to us all, to begin sharing them à la Singapore and to keep promulgating that realization. More at Progress.org.
Jul 11 2014 - 1:00pm