Mayor Bloomberg Tries to Get New Yorkers to Buy Lousy Stocks


Billionaire mayor Michael Bloomberg was totally handing out stock tips yesterday, and the Post was there to listen. General Electric, Macy’s, and Saks, he told the paper, were “great.” “If you have cash now, buy a little bit, wait a month, buy a little bit more,” he said. Afterward, mayoral spokesperson Stu Loeser quickly backtracked. “GE is the quintessential American blue chip,” he said according to the Post. Macy’s and Saks, on the other hand, “are strongly identified with the city, which is why the mayor frequently mentions them in public comments.” Nice. Currently, GE is up to $6.73, while Macy’s and Saks are down to $6.72 and $2, respectively. [NYP]