Put Bank Penalties To Work For New York

By: Bruce Gyory
– Newsday 

It's rare that the imperatives of good policy so easily meld with political viability. But the stars are beginning to align on a statewide infrastructure plan.

We learned in July that New York State would get $3.3 billion from the sanctions imposed on the French bank BNP Paribas. By late last month, it appeared the final settlement involving multiple banks would net the state about $4.2 billion. The settlements relate to violations of sanctions against nations like Iran and asset disclosures at the root of the mortgage securities crisis.

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