Wall Street Losses Cut Tax Bill, Sap New York Revenue (Update4)

Aug. 12 (Bloomberg) -- Wall Street's mortgage losses have grown so large that some firms may pay little or no taxes for years, widening New York City and state deficits and challenging their ability to provide services, Mayor Michael Bloomberg said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axg4EauPWhQc&refer=home

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