New York Gov. David Paterson late yesterday recalled the Legislature for an emergency economic session next month to address the state's deteriorating financial position. One approach the administration will consider is public-private partnerships to generate revenue from the state's assets, he said.
"The damage on Wall Street is infecting all of our communities and its effects on New York State's finances are devastating," Paterson said. "The fact is we confront harsh times. Let's be honest, this situation will get worse before it gets better, but the time to act is now."