New York State Comptroller

So it kind of resulted in a hardship where I had to pay an extra, you know, $1,130 in IRS taxes on one of the estate returns.

Then there was an issue more recently where there was 200 shares of lost stock that was valued between $22,000 to $24,000 between a trading day, and they – would send the notices about it being put into lost property in the New York State Comptroller's Office.

So I made a phone call, again, speaking to an entry-level customer service agent.

They calculated that the cost would be over $800 to replace it.

And I said, you know, just put it into lost property because New York State Comptroller's Office, they don't charge anything There's no handling or transaction fee at all.

That's something that's a free service to New York State residents.

Chris, I don't mean to cut you off, but we are getting closer to our news break coming up at the half hour.

So then I called them back, and then the value of the stock had gone up like almost 40%, and then it became a $1,300-plus expenditure.

James and Cominteretti debated on October 8th, and that debate, expertly moderated by Errol Lewis and Susan Arbetter, is available on the Spectrum News YouTube channel if you'd like to check it out.

Very briefly, before I bring my guest on, if you've missed any recent episodes of the show, I recently interviewed both the Democratic and Republican nominees for New York State Comptroller, including Democratic incumbent Tom DiNapoli and his Republican challenger, Joseph Hernandez.

You can listen to those.

Two interviews to get ready to vote in the state comptroller election, which is happening here at the same time as the attorney general race, the governor's election, and many other races for federal, state, and local offices.

But, um, so both coasts, both coasts are, are pissed, and they're opposing this strongly.

New York State Comptroller, New York City Comptroller, CEO of CalPERS, a large California pension fund, they collectively represent three of the top four largest US public pension funds.

Interestingly, their total amounts of assets under management is, is over one trillion, so SpaceX seems like it will be bigger than the three of them.

But still, they hold a lot of sway.

So that's what-- And we wanted to put our statewide race here, and we're trying obviously to get more.

As you might know, there's other statewide races going on, but we're putting it here in this podcast today because it is a statewide race, and it's a big one at that with New York State Comptroller.

But we do have the perspective from Lee Miringoff as our guest today as well.

But without any further ado, our Power and Politics producer, Olivia Holloway, is here as always with Holloway's headlines.

We have obviously those campaign interviews coming up, but we also have some local news.

An audit from the City of Albany's auditor, Sam Fine, is showing some now surfacing information about the Au- the City of Albany's budget deficit, multimillion dollars, 55 million.

I think it might be a little more after the Comptroller looked at it last week.

It's showing that the city mismanaged federal funds from the American Rescue Plan Act, or ARPA.

We don't see them moving to Texas and Florida at super high rates.

Um, and actually, there was just a report that came out of the New York Comptroller's Office earlier this week showing just how much money the securities industry continues to make in New York.

Um, what that demonstrates, and other data demonstrates, is that the, the jobs that are moving to other places are not the super high earnings, like, sort of security dealers, finance jobs.

They're the, um, mortgage issuers, people who are middle class or upper middle class and can greater afford to live in a different state because the housing costs are lower.

Now changing gears here, we welcome now our Bloomberg TV audience and radio listeners.

New York State Comptroller Thomas DiNapoli is with us on his latest report on New York City security industry and Wall Street's bumper year.

Tom, thank you so much for joining in.

What, what a bumper year it is.

This final note on the way out today, which given where the markets are, may or may not be a surprise and may or may not be welcome news to the broader public.

The New York State Comptroller says he figures financial sector bonuses, tied of course to bank profits, are going to set a new record this year.

On that note, next week we start getting third quarter earnings reports from those same big Wall Street banks.

Jordan Mangas, Anil Maharaj, Jenna Wynn, Olga Khaxmann, and Virginia K. Smith are the digital team.