Coalition urges city to change its relationship with banks as a way to address income inequality

Wall Street has put the squeeze on the city to the tune of $1 billion, a report due out Tuesday claims.

As much as $723 million worth of unnecessary fees and bad deals, coupled with $300 million in bank subsidies should be rejiggered, says a study from a new left-leaning coalition called New Day, New York Coalition.

“New York City could be saving $1 billion annually just by changing the way it does business with Wall Street,” one of the report’s authors, Connie Razza, director of strategic research initiatives at the Center for Popular Democracy, told the Daily News.

more @ http://www.popularresistance.org/bad-deals-with-wall-street-are-costing-nyc-as-much-as-1-billion-a-year/