Category: New York City

Mr. Punch and his regulatory slapstick: Part 3, No proprietary purpose

21 August, 2015 (10:00) | Banking, Cities, Community Reinvestment Act, de Blasio, Deposits, Federal supremacy, Housing, Lending, New York City, Pre-emption, Punch and Judy show, Regulation, US News | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith As we saw yesterday, after then-mayor Bloomberg vetoed the Responsible Banking Act, the City Council overrode his veto by a huge margin (46 to 5), and when they did, the members, such as City Councilor Albert Vann, were understandably triumphant: “The […]

Mr. Punch and his regulatory slapstick: Part 2, An improper measure of oversight

20 August, 2015 (10:00) | Banking, Cities, Community Reinvestment Act, de Blasio, Deposits, Federal supremacy, Housing, Lending, New York City, Pre-emption, Punch and Judy show, Regulation, US News | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith A combative fellow is Mr. Punch, fearless in the making of political sausages: Sources used in this post Crain’s New York Business (5 August 2015: buff blue font) Crain’s New York Business (10 August 2015) New York Times (August 11, 2015; siena font) Wall Street Journal […]

Mr. Punch and his regulatory slapstick: Part 1, Void in its entirety

19 August, 2015 (10:00) | Banking, Cities, Community Reinvestment Act, de Blasio, Deposits, Federal supremacy, Housing, Lending, New York City, Pre-emption, Punch and Judy show, Regulation, US News | No comments

By: David A. Smith Wherein we begin the show with as much merriment as possible. That’s the Way to Do it!  For Mr. Punch, a slapstick is for smacking people, the more the merrier, so when Mr. Punch is mayor of all the New Yorkers, then he will use the slapstick whenever he can, even […]

Built upon the lands of time: Part 3, 8.2% annual appreciation for 32 years

22 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Rental, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith After capital reinvetsment While the story reported in The New York Times (12 June 2015) of the Tower – Trump Plaza at 167 East 61st Street – Lease expiration imminent – has already had its Magus and its Fool, its land-sundered […]

Built upon the lands of time: Part 2, The Rule of Four-Sevenths

21 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith End of lease approaching In yesterday’s Part 1 chronicling the happy if expensive ending of a 32-year saga of a co-op that ‘forgot’ to buy the land underneath its apartments, reported in The New York Times (12 June 2015), we had met our Magus, Marc Cooper […]