The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Get rich quick in NYC

Easy money is still up for grabs. In 2009 New York City paid out $563 million to settle lawsuits, an amount that nearly surpassed a 2001 record. According to the New York Post the money went towards settling 7,000 cases, some of which dealt with such frivolous issues that even a jury would have chucked them out. Despite some laughable cases the city continues to follow a policy of settling out of court rather than risk a plaintiff being awarded a large amount.

It looks as if there is a way for Wall Street bankers to get government money and keep it!

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree