Join our email newsletter to get Local Brooklyn News, Events & Offers in your inbox.

Learn More
Columnists

Common Sense: The ballot

In addition to candidates for local offices ranging from mayor to members of the New York City Council, there will be six proposals on the ballot that require your attention. The New York State Conservative Party recently issued their position on each of them.

Proposal Number One: Authorizing Casino Gambling. The Conservative Party is recommending a NO vote.

Proposal Number Two: Additional Civil Service Credit for veterans with Disabilities Certified Post-Appointment. The Conservative Party is recommending a YES vote.

Proposal Number Three: Exclusion of Indebtedness Contracted for Sewage Facilities. The Conservative Party is recommending a NO vote.

Proposal Number Four: Settling Disputed Title in the Forest Preserve. The Conservative Party is recommending a YES vote.

Proposal Number Five: In relation to a Land Exchange in the State Forest Preserve with NYCO Minerals, Inc. The Conservative Party is recommending a YES vote.

Proposal Number Six: Increasing the Age until which Certain State Judges Can Serve. The Conservative Party is recommending a NO vote.

The NYS Conservative Party provides a fair amount of detail on the reasoning behind the recommendation on its website CPNYS.ORG.

* * *

Congressmember Michael Grimm recently penned an op-ed piece calling on Congress to move on the Terrorism Risk Insurance Act which expires in the not-so-distant future.

Pre 9/11, U.S. insurance companies routinely covered losses from terrorist attacks. That was no longer the case after the attacks, with the result being that large commercial developments stalled or canceled since developers and lenders logically would not go forward uninsured.

The Terrorism Risk Insurance Act uses industry-wide copayments essentially to set up a pool that will cover losses. The need to renew the legislation sadly reflects the world we live in today. The congressmember is right on target in calling for Congress to address it immediately.

* * *

I wonder how Larry Summers must have felt when the stock market had its biggest gain in weeks immediately following the announcement that he had withdrawn his name from consideration as chairperson of the Federal Reserve System. Clearly, his views on monetary policy were not what the market wanted.

The likely new chairperson will be Janet Yellen, the current vice chairperson and former head of the San Francisco Federal Reserve Bank. Ms. Yellen was born and raised in Bay Ridge and is a graduate of Fort Hamilton High School. Thus in all likelihood the most powerful monetary policymaker in the world will have been originally from our community.

Leave a Reply

You must be logged in to post a comment.