Welcome to the club

Well! Now that we’re all wearing barrels on suspenders (not just the poor Upstate country cousins)…

State Legislature May Convene

As city and state officials assessed the potential fallout from the collapse of Lehman Brothers on Monday, the speaker of the State Assembly said he expected the State Legislature to reconvene in an emergency session to address the faltering economy. “I think it’s conceivable we’ll be back before the end of the year,” Sheldon Silver, the Democratic Assembly speaker, told reporters on Monday after addressing a gathering of New York Democratic Party officials. Separately, Gov. David A. Paterson said he would take “whatever actions are needed” to shore up the state’s finances. The bankruptcy of Lehman Brothers Holdings is deeply troubling news not only for Wall Street, but also potentially for our state budget,” Mr. Paterson said in a statement released by his office on Monday afternoon. “We are entering uncharted waters.”

Which is what Henry Hudson said when he sailed up a river that the native inhabitants already knew a great deal about…