“Wall Street may save the city again, as it has done so often in modern New York. The investment bankers, traders, hedge fund executives and private equity specialists may concoct another financial innovation that propels the markets and sends their own pay and bonuses soaring. If Wall Street does that, New York will be rich again, tax revenues will be plentiful and the political disputes over handing out the spoils affordable.”

Crain’s columnist Greg David argues that the city’s future depends on the wealth accumulated by Wall Street in his new book, Modern New York: The Life and Economics of a City. That’s assuming they pay their fair share of taxes, right? (Photo: Poster Boy/flickr)