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New York City's "Occupy Wall Street" protests
New York City's "Occupy Wall Street" protests

Cuomo on Occupy Wall Street protestors: Mixed emotions

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Talking to reporters Thursday, Governor Andrew Cuomo expressed admiration and concern about the "occupy wall street" protests. He said he understands the "frustration" of the demonstrators--but admits the state depends on revenues from the financial industry to balance its budget. In Albany, Karen DeWitt has more:

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Reported by

Karen DeWitt
NYS Capitol Correspondent

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Cuomo says protests are an “important part of democracy”, and says he understands the frustration and anger of the demonstrators in downtown Manhattan over the stagnant economy.

“When people are feeling pain, they look for an outlet,” said Cuomo.

The governor, when he was Attorney General, pursued corruption cases in the financial industry. 

At the same time, Cuomo acknowledges that Wall Street is a “major economic engine” for the state, and the budget  is dependent on Wall Street revenues for up to one quarter of total state taxes collected.

The governor also reacted to news that Wall Street bonuses may be down this year, saying the state’s  projected $2 billion dollar deficit could be even bigger.

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