New York remains rich in the ultimate resource: human capital.

The Reinventive City by Edward L. Glaeser, City Journal 13 July 2009: "In 1981, Michael Bloomberg was fired. The mayor-to-be had enjoyed a meteoric career, becoming a partner at Salomon Brothers at the precocious age of 31. But in 1979, he was exiled from the exciting trading floor to hang out with the geeks in systems development, and two years later Salomon dispensed with his services altogether. Bloomberg’s $10 million severance package was admittedly a lot better than what most of Manhattan’s unemployed workers received. Still, he was out of a job in the middle of a severe national recession."