The developers of the proposed mosque at Ground Zero may be eligible for public financing. If the New York City Comptroller decides that the Cordoba Initiative qualifies — and he has indicated that he is inclined that way — a special development corporation would be created to issue $100 million in tax-free bonds for the building of the mosque.
In other news, the federal government, as is its wont, has revised its previous estimate of growth in the second quarter downward, to 1.6%. Nevertheless, Federal Reserve chairman Ben Bernanke is talking up the economy — he says the “pre-conditions” for growth are in place. The stock market rallied when it heard Mr. Bernanke’s
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