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: The decaying value of Jersey City Real Estate is happening with no one watching the helm of the ship.   At the current time Jersey City enjoys a close relationship from a geographic perspective to the Financial District of Manhattan basically providing an affordable place to put back office operations.   This advantage is based on the centralized structure of the Securities Processing Regime currently used by the industry, which is a security risk because it allows for a single point of failure.   DTCC/NSCC, which is located at 55 Water Street, is the crucible of this industry and is planning to move to Florida by 2005.   If the Jersey City Government where not so interested in pay offs they would realize that the ground they stand on is eroding under their feet and placing in jeopardy the critical economic stimulus the geographic location to DTCC has added.   The question is why Jersey City does not see the inter-relationship of Manhattan to Jersey City, well the answer is they are to stupid to see beyond their own noses and they are racist in a sense because they see commercial development as something to take a bribe from rather than promote.  So the Mayor needs to address this issue and it will require a steady effort with no quick buck pay off for his buddies and that also applies to the HCDO as well.   The best means of achieving this effort to move DTCC to Jersey City to give them what they want and that can be achieved by separate county status and not putting your hands out for a bribe.


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Hoboken Guide

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