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Banking

<b>Big Easy shakes off big crime blues</b>

    Headline: Big Easy shakes off big crime blues
Source: Euromoney
Date: March 2000

If perverse prizes were handed out each year for the city most likely to self-destruct, by the early 1990s New Orleans would have been a regular, hands-down winner. A decade or so ago it was as though the city had assembled all the trump cards it was arbitrarily dealt by geography and contemptuously chucked them into the Mississippi River or the Gulf of Mexico.

Students of oil-dependent economies the world over would be quick to sympathize with the Big Easy, and to recognize the root cause of the mess it had managed to cook up for itself.

Confident that oil prices were a one-way bet, New Orleans did not worry too much about what Miami was doing to establish itself as the transportation hub of choice linking the US with South America and as a banking centre. Nor did the city concern itself unduly about squandering its money on incidentals such as public education or law enforcement. This, after all, was the Big Easy; the place to eat crawfish pie and have big fun on the Bayou.





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