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New York Post
a day ago
- Politics
- New York Post
Michael Goodwin: Cuomo remains NYC's best shot to keep socialist Mamdani from being mayor – or the city will never be the same
He lost the primary by a stunning 12-point blowout, but as strange as it sounds, the ball is again back in Andrew Cuomo's court. Is he going to run a serious campaign in the general election, or is he ending his political career with a humiliating defeat? That's the key question for him, but it's also vital for the November election. Cuomo's answer is crucial because the Democrats' full-blown socialist nominee, Zohran Mamdani, is a heavy favorite to win. If he does and is able to implement even half of his radical agenda, New York will never be the same. It's teetering under the flawed leadership of Mayor Adams, but Mamdani is a human wrecking ball whose City Hall would make these troubled days look like a Golden Age. His policies would destroy Gotham's economy and shred the fragile social fabric. Nepo baby disaster His plan to freeze rents on 1 million privately owned apartments would turn the housing crisis into an unfixable disaster. What private developer is going to build apartments if it means losing money on the whims of a nepo-baby mayor who never held a job in the private sector? And if government becomes the major builder, look to the perpetually troubled Housing Authority projects for a vision of the hellscape future. Follow The Post's coverage of the NYC mayoral race Mamdani's racist plan to tax white-owned property higher than others and his support for antisemitic policies are beyond the pale. On top of his backing for the BDS movement, his refusal to condemn the odious phrase 'globalize the intifada' offers tacit support for violence against Jews in Israel and around the world. He's also a 33-year-old elitist who joined the 'defund the police' mob and has talked about dismantling the jail system. Next to him, Manhattan District Attorney Alvin Bragg is a throw-away-the-key champion of law and order. New York has never had a mayor so far out of the mainstream. The closest was Bill de Blasio, and Mayor Putz was the worst leader the city had in 50 years. Which brings us back to Cuomo. The November ballot essentially comes down to a four-person race. In addition to Mamdani on the Dem line, Cuomo and Eric Adams hold independent lines, and Curtis Sliwa is the GOP nominee. Cuomo I believe, is the only one with a realistic chance of defeating Mamdani. Yes, yes, I know that's a hard sell in the immediate aftermath of the thumping the former governor suffered last week. Mamdani beat him by 7 points on the straight vote counting, and the final margin grew to 12 points when the ranked-choice votes were tabulated. Full of regrets The difference reflected the cross-endorsement arrangements Mamdani made with like-minded lefties that enabled him to pick up much of their support when they were eliminated. But the key was the record turnout of 100,000 new voters from ages 18 to 30, who went overwhelmingly for the Queens lawmaker. Polls didn't pick up the surge until the very end, with Cuomo consistently a dominant front-runner since March. One result was that Cuomo was too cautious, acting like an incumbent playing not to lose instead of playing to win. His Rose Garden strategy of skipping candidate forums and granting few interviews reflected what the polls were saying: that his lead was safe. It wasn't and I'm told he's now full of regrets and admits he ran a terrible race. He acknowledged as much in a brief statement to me late Tuesday, in which he said the 'buck stops with me' and that 'I should have focused on a simpler affordability message even in these complex times.' After saying that 'Effective social media is paramount,' he added, 'We're going through the data, but there's no question a fall campaign needs to be a different effort informed by the lessons of this one.' His points reflect the fact that his ads, including those of his well-funded PAC, were good enough in a vacuum, but never countered his opponent's appeal to new voters. In addition, Cuomo was saddled with his own disgraceful exit from Albany four years ago over sexual harassment allegations. He also carries the baggage of his fatal Health Department order requiring nursing homes to take COVID patients, and he never owned and apologized for either, apparently assuming they were too far in the past to matter. He's wrong, and to run in the fall, he must express honest regret to voters. Poll optimism Still, there is already one poll looking ahead that is giving his team some optimism. It was conducted in the first two days after the primary, but got little attention. It deserves more. The Cuomo-aligned Honan Strategy Group found that, going into the general, Cuomo and Mamdani are essentially tied at 39%, with Adams at 13% and Sliwa at 7%. The survey considered two major scenarios: First, if Cuomo didn't actively campaign, Mamdani would have a lead of 15 points over Adams. Second, if Adams effectively decided to drop out, Cuomo would lead Mamdani by four points. In part that's because Cuomo did well among black voters, and would do even better absent Adams. One important finding was this sentence from the pollsters: 'We examined voter sentiment towards the leading candidates among General Election voters, and found that only Andrew Cuomo has a positive favorability rating of 56% to 43% unfavorable.' They found 'Mamdani is more negative than positive, at 48% unfavorable to 40% favorable.' Remember, these results were obtained in the aftermath of Mamdani's victory. Another key takeaway is that 66% of likely fall voters have an unfavorable opinion of Adams, with only 23% favorable. Two-thirds disapprove of his job performance, and '75% agree with the statement that Eric Adams is corrupt and should not run for reelection.' Those findings suggest Adams has almost no chance of winning. The numbers haven't escaped the Cuomo camp, which also believes Sliwa cannot win. Party infighting Part of their confidence in a potential comeback is that Cuomo, although elected four times as a Democrat — once for attorney general and three times as governor — has long had a tense relationship with the party's progressive wing that dominates primaries. Clearly, that wing has grown dramatically in the city, but his team believes the mix of general election voters would be more moderate and more receptive to his ideas. They also believe the fear over a Mamdani mayoralty, even among top Dem officials, works in his favor. One part of his agenda that could be important is Cuomo's plan to hire 5,000 more police officers and keep the popular and successful Jessica Tisch as commissioner of the NYPD. The contrast with Mamdani's anti-police rhetoric and 'defund' record deserves more attention than it got during the primary. My prediction is that Cuomo, after licking his wounds and sounding out key donors and supporters, will throw himself into the November race. At this point, foolish pride is the only thing he has left to lose.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Deep Dive: How loan sharks target Hongkongers desperate for cash
Deep Dive delves into hot issues in Hong Kong and mainland China. Our easy-to-read articles provide context to grasp what's happening, while our questions help you craft informed responses. Check sample answers at the end of the page. News: How one person can fall victim to loan sharks in Hong Kong High interest rates on loans can lead people to borrow more money to cover their payments When his grandmother died, Hongkonger Fai Chan inherited her flat in eastern Kowloon valued at HK$3 million in 2023. But first, he had to pay a HK$1.2 million premium to the Housing Authority. He did not have the money. That was the start of his journey into the world of borrowing at high interest rates and sinking deep into debt. He had been shunned by banks due to a past bankruptcy. So he turned to two well-known finance companies for the money. Each lent him HK$600,000, and he paid the Housing Authority. But their 40 per cent annual interest rate over 10 years meant he had to repay HK$22,000 a month, which swallowed almost his entire salary of HK$20,000 to HK$30,000. The punishing monthly payments became unbearable, and he turned to smaller, less regulated lenders to borrow even more. Soon, he was juggling loans from six different places, all licensed lenders. He was taking on new debt to pay off his old ones. Chan never missed a payment but lived in constant anxiety. His phone number was shared among lenders. These loan sharks bombarded him with offers of 'help' if he needed more cash. Deep Dive: Hong Kong's gig workers call for more industry regulation 'Over WhatsApp, they will say, 'just come over and get money in 30 minutes',' Chan recalled. 'But once you get there, they will scrutinise your request and get all your information, your family's telephone numbers too.' He learned that hidden handling fees were the biggest trap. A borrower taking out a HK$10,000 loan might only receive HK$8,000 after a 20 per cent fee was deducted. However, they would still have to repay the full HK$10,000 plus interest. The law prohibits lenders from charging fees over the stated interest rate. Seeing him struggle, a friend lent Chan HK$180,000. The loan enabled him to break the cycle of borrowing and sinking deeper into debt. By then, Hong Kong's property market had slumped. The value of his grandmother's flat sank to HK$1.2 million. He sadly gave up the flat he inherited, selling it for HK$1.8 million. After repaying his friend and settling his debts with the finance companies, he was left with virtually nothing. Even now, his phone still occasionally buzzes with messages from lenders. Some falsely claim he still owes them money. Looking back, he said he never would have accepted his inheritance if he had known the trouble it would bring. Staff writers Question prompts 1. According to News, which of the following is true? (1) Chan had to borrow money because of a flat he inherited from his mother. (2) At one point, Chan was dealing with loans from six places, none of which were licensed lenders. (3) Lenders are not allowed to charge fees over the stated interest rate. (4) Chan got out of debt after a friend lent him money. A. (1), (3) only B. (2), (3) only C. (2), (4) only D. (3), (4) only 2. Name at least TWO ways predatory loan companies manipulate their victims. 3. List ONE positive and ONE negative outcome based on how Chan's experience with predatory loan companies ended. Illustration Question prompts 1. What is being depicted in this illustration, and how does it relate to the information in News? 2. Based on your own knowledge and what you learned in News, how did predatory lenders get the nickname 'loan shark'? Issue: Main targets of loan sharks and ideas for industry reform Elderly Hongkongers, gamblers and students have all been identified as victims of moneylending schemes Many have called for more industry regulation and tougher licensing requirements Amid Hong Kong's economic downturn, a growing number of residents have been driven into the web of moneylenders, many of whom operate outside the law. Lawyer Lau Kar-wah said elderly residents may be targeted by financial intermediaries offering older homeowners a lower mortgage rate for their flats. These intermediaries encourage them to sign fabricated documents showing proof of income or cash flow and transfer their mortgage to another bank. To get the money for their fabricated monthly income, the mortgagor would be asked to borrow from a lender at a high interest rate. Lau said many of the victims were elderly people who wanted to help their children or low-income households whose properties were likely their main assets. Terence Mok, a social worker at the Smart i-Change Gambling Counselling Service, said problem gamblers were also lured by ads for online loans that often charged interest rates of more than 48 per cent, after exhausting their credit cards and borrowing from family. These unlicensed loan sharking operations used unregistered prepaid SIM cards or overseas numbers, making them nearly impossible to trace. Innocent family members and friends sometimes end up harassed due to these debts. Leung, who asked only to be identified by her surname, said she and more than 10 relatives found themselves targeted by debt collectors after a family member gave their names and personal details as 'referees' on a loan application without their knowledge or consent. Under the licensing conditions for money lenders, a referee cannot be held liable for a loan and must provide written consent. But in reality, debt collectors are known to hound family members and put pressure on the actual borrower. Deep Dive: Hong Kong authorities aim to boost 'silver economy' by encouraging elderly spending Emails were sent to their employers, stating their names, addresses and company details, and false claims that they had borrowed money. 'Shouldn't the referee be informed ... for checking?' she asked. 'These processes seem to be completely non-existent, and personal privacy has also been violated.' Lawmaker Johnny Ng Kit-chong highlighted another predatory pipeline involving young people being duped by direct sales investment schemes. He said scheme organisers would persuade students to 'invest' in products by taking out high-interest loans, with false promises of being able to repay the debt quickly from the sales profits. Hong Kong's money lending industry is governed by the Companies Registry, but the city's Consumer Council has long advocated for this system to be consolidated into a single, industry-specific regulator to improve governance. Meanwhile, social worker Mok suggested the government tighten its licensing procedures, as some lenders who were denied renewals might open new ones. Staff writers Question prompts 1. According to Issue, which of the following is true? (1) Loan sharks usually charge gamblers interest rates of less than 30 per cent. (2) Predatory lenders go after students by enticing them to invest in products by taking out high-interest loans. (3) Unlicensed loan sharks can be tough to trace because they often use overseas numbers or unregistered prepaid SIM cards. (4) Under current regulations, if a moneylender is denied a license renewal, they cannot open a new one. A. (1), (2) only B. (2), (3) only C. (3), (4) only D. (1), (4) only 2. Using Issue, identify THREE groups of people targeted by loan sharks and ONE characteristic that unites these different groups. 3. List TWO measures that have been proposed to reform the moneylending industry. Graph Question prompts 1. What is being depicted in the graph? 2. What steps should the government take to address the issues presented in the graph? Explain using News, Issue and your own knowledge. Glossary bankruptcy: a legal process that helps a person or business who cannot repay their debts. Bankruptcy grants them relief by either wiping out what they owe or making a plan for them to pay over time. However, they may be forced to sell things they own, and it could be more difficult for them to get loans in the future. interest rates: the amount you are charged for borrowing money – a percentage of the total amount of the loan. For example, if you borrow HK$1,000 at a 10 per cent interest rate, it means you will repay HK$1,100. loan sharks: people or businesses that lend money but charge extremely high interest rates and may even use threats of violence to collect debts asset: anything valuable that a person owns which can provide economic benefits in the future. Assets could include real estate, vehicles, personal belongings, cash savings, or stocks and bonds direct sales investment schemes: business models that require people to buy products from a parent organisation and sell them directly to customers Loan sharks prey on vulnerable people, causing them a lot of stress. Photo: Shutterstock Sample answers News 1. D 2. One way loan sharks manipulate their victims is by bombarding them with messages and offers of 'help'. Even after Chan paid off all his debts, loan sharks continued to contact and harass him, falsely claiming that he still owed them money. This can stress out vulnerable and unaware individuals. Additionally, moneylenders collect all of a borrower's contact information, as well as that of their family and friends, so they can harass others in the victim's network. Finally, loan sharks charge hidden handling fees, which take advantage of vulnerable individuals who lack the funds to repay their debts. They may resort to borrowing more money from other loan sharks to pay the fees, continuing the cycle. 3. A positive outcome for Chan was that he managed to break the cycle of borrowing and repaying, thanks to a friend lending him money. He was no longer in debt. However, the value of the flat he inherited dropped by more than half, forcing him to sell it. Unfortunately, he was left with very little money after paying off his debts. Illustration 1. This cartoon shows a man stranded on a boat surrounded by sharks. The man seems desperate to grab the money being handed to him by a 'finance company', as it says on the sleeve. This is a nod to the information in the news because the man is in a vulnerable situation and needs cash. He is willing to take the money from this so-called finance company. All the while, he is surrounded by sharks - which represent loan sharks - that are ready to prey on him. 2. Loan sharks likely got their name because sharks are predatory creatures that hunt their prey. Similarly, loan sharks also seek out vulnerable people, hunting them down and preying on their assets. (accept all reasonable answers) Issue 1. B 2. According to Lau, loan sharks sometimes target the elderly, while Mok explains that they also target gamblers, and Ng notes that they also target students. While these three groups seem very different, they are similar in one way: they are vulnerable. The elderly are particularly vulnerable to scams because they may not understand the details of the loans. Gamblers may be down on their luck after exhausting all other options for cash. Therefore, they are likely to be desperate and will resort to borrowing to repay their debts. Students are vulnerable because they likely do not have much money and may need to borrow funds to establish their lives and careers. They might not know how loan sharks and borrowing work. 3. The Consumer Council believes that the current system should be consolidated. Currently, the Companies Registry handles licenses, the police, and the Licensing Court. Consolidating these duties into a single, industry-specific regulator might create more fairness for lenders and borrowers, according to the Consumer Council. In addition, Mok thinks that the government should tighten the reins on licensing. He reasoned that some lenders who are denied renewals might just open new ones. Graph 1. This graph shows the number of complaints relating to money lenders in Hong Kong from 2018 to 2025. Although the trend is not steady, the primary concern is that Hong Kong is on track to record 112 complaints in 2025, given that there were 28 complaints in the first quarter of the year. This number is much greater than any other year. 2. The Hong Kong government needs to provide better education on the dangers of loan sharks. This information should be readily available to vulnerable groups that tend to use loan shark services. Lectures can take place at elderly community centres and universities. (accept all reasonable answers)
South China Morning Post
3 days ago
- Business
- South China Morning Post
Spark Deep Dive: How loan sharks target desperate Hongkongers
Deep Dive delves into hot issues in Hong Kong and mainland China. Our easy-to-read articles provide context to grasp what's happening, while our questions help you craft informed responses. Check sample answers at the end of the page. News: How one person can fall victim to loan sharks in Hong Kong High interest rates on loans can lead people to borrow more money to cover their payments When his grandmother died, Hongkonger Fai Chan inherited her flat in eastern Kowloon valued at HK$3 million in 2023. But first, he had to pay a HK$1.2 million premium to the city's Housing Authority. He did not have the money. That was the start of his journey into the world of borrowing at high interest rates and sinking deep into debt. He had been shunned by banks due to a past bankruptcy. So he turned to two well-known finance companies for the money. Each lent him HK$600,000, and he paid the Housing Authority. But their 40 per cent annual interest rate over 10 years meant he had to repay HK$22,000 a month, which swallowed almost his entire salary of HK$20,000 to HK$30,000. The punishing monthly payments became unbearable, and he turned to smaller, less regulated lenders to borrow even more. Soon, he was juggling loans from six different places, all licensed lenders. He was taking on new debt to pay off his old ones. Chan never missed a payment but lived in constant anxiety. His phone number was shared among lenders. These loan sharks bombarded him with offers of 'help' if he needed more cash. 'Over WhatsApp, they will say, 'just come over and get money in 30 minutes',' Chan recalled. 'But once you get there, they will scrutinise your request and get all your information, your family's telephone numbers too.' He learned that hidden handling fees were the biggest trap. A borrower taking out a HK$10,000 loan might only receive HK$8,000 after a 20 per cent fee was deducted. However, they would still have to repay the full HK$10,000 plus interest. The law prohibits lenders from charging fees over the stated interest rate. Seeing him struggle, a friend lent Chan HK$180,000. The loan enabled him to break the cycle of borrowing and sinking deeper into debt. By then, Hong Kong's property market had slumped. The value of his grandmother's flat sank to HK$1.2 million. He sadly gave up the flat he inherited, selling it for HK$1.8 million. After repaying his friend and settling his debts, he was left with virtually nothing. Even now, his phone still occasionally buzzes with messages from lenders. Some falsely claim he still owes them money. Looking back, he said he never would have accepted his inheritance if he had known the trouble it would bring. Staff writers Question prompts 1. According to the news, which of the following is true? (1) Chan had to borrow money because of a flat he inherited from his mother. (2) At one point, Chan was dealing with loans from six places, none of which were licensed lenders. (3) Lenders are not allowed to charge fees over the stated interest rate. (4) Chan got out of debt after a friend lent him money. A. (1), (3) only B. (2), (3) only C. (2), (4) only D. (3), (4) only 2. According to the news, list TWO ways loan sharks manipulate their victims. 3. List ONE positive and ONE negative outcome of Chan's experience with predatory loan companies. Illustration Question prompts 1. What is being shown in the illustration? How does it relate to the information in the news? 2. Based on your own knowledge and what you learned in the news, how did predatory lenders get the nickname 'loan shark'? Glossary bankruptcy: a legal process that helps a person or business who cannot repay their debts. Bankruptcy grants them relief by either wiping out what they owe or making a plan for them to pay over time. However, they may be forced to sell things they own, and it could be more difficult for them to get loans in the future. interest rates: the amount you are charged for borrowing money – a percentage of the total amount of the loan. For example, if you borrow HK$1,000 at a 10 per cent interest rate, it means you will repay HK$1,100. loan sharks: people or businesses that lend money but charge extremely high interest rates and may even use threats of violence to collect debts scrutinise: to examine something very carefully in order to discover information Sample answers News 1. D 2. One way loan sharks manipulate their victims is by bombarding them with messages and offers of 'help'. Even after Chan paid off all his debts, loan sharks continued to contact and harass him, falsely claiming that he still owed them money. This can stress out vulnerable and unaware individuals. Additionally, moneylenders collect all of a borrower's contact information, as well as that of their family and friends, so they can harass others in the victim's network. Finally, loan sharks charge hidden handling fees, which take advantage of vulnerable individuals who lack the funds to repay their debts. They may resort to borrowing more money from other loan sharks to pay the fees, continuing the cycle. 3. A positive outcome for Chan was that he managed to break the cycle of borrowing and repaying, thanks to a friend lending him money. He was no longer in debt. However, the value of the flat he inherited dropped by more than half, forcing him to sell it. Unfortunately, he was left with very little money after paying off his debts. Illustration 1. This cartoon shows a man stranded on a boat surrounded by sharks. The man seems desperate to grab the money being handed to him by a 'finance company', as it says on the sleeve. This is a nod to the information in the news because the man is in a vulnerable situation and needs cash. He is willing to take the money from this so-called finance company. All the while, he is surrounded by sharks - which represent loan sharks - that are ready to prey on him. 2. Loan sharks likely got their name because sharks are predatory creatures that hunt their prey. Similarly, loan sharks also seek out vulnerable people, hunting them down and preying on their assets. (accept all reasonable answers)
South China Morning Post
4 days ago
- Business
- South China Morning Post
Hong Kong social enterprise restaurant races to relocate as closure looms
Hong Kong's social enterprises empowering vulnerable communities are struggling to survive amid a dire economy. In the second part of this two-part series, the Post looks at how a profitable social enterprise was driven out of business by the government despite its earlier recognition and contributions to the community. You can read the first instalment here In one of Hong Kong's most underprivileged neighbourhoods, residents were recently bidding a reluctant farewell to Agape Garden. Over the past six years, this social enterprise restaurant in Shek Kip Mei Estate provided jobs for those with mentally disabilities, single mothers and the elderly, while offering free hot meals to about 100 seniors in need daily. More recently, they have even started helping stray cats find a new home. The closure follows an abrupt government decision to reclaim the space, effectively dismantling this community hub. The landlord, the Housing Authority, said it was 'planning other uses for the premises with detailed arrangements being worked out', without specifying the new purpose. Their website showed at least two dozen vacant shops pending tender in the neighbourhood.
RTHK
25-06-2025
- Health
- RTHK
Trial for identifying needy elderly to start this year
Trial for identifying needy elderly to start this year Chris Sun says work is under way to link databases managed by public organisations, with the hope of identifying high-risk elderly people. Photo: RTHK A government initiative to identify vulnerable elderly individuals – and offer necessary assistance – through big data analysis could kick off with a district-based trial this year, according to labour and welfare chief Chris Sun. It will be followed by a citywide launch after smoothing out potential glitches with the system, he added. Sun emphasised that there's no time to waste as early intervention is essential to prevent tragedies. The idea of establishing an "inter-disciplinary and inter-organisation" database was first mentioned in the chief executive's Policy Address last year. The system, designed by university teams, is aimed at detecting vulnerable individuals, such as senior citizens who are ill and live alone, as well as their carers. Such cases will then be passed on to relevant authorities for follow-up. In an interview with RTHK marking three years since the John Lee administration assumed office, Sun said the system will link databases from social welfare organisations, as well as public hospitals and the Housing Authority. "Three in four senior citizens receive cash subsidies or some sort of services from the government, so authorities definitely have information about them, and where they live," he said. "Once they are in hospital, then the case is recorded on the Hospital Authority's database. But its database is not linked with ours. Once they are linked, we will know if they come from an elderly household, and if they are at risk. In this case we can send help immediately, either by instructing NGOs or community care teams." Sun hopes to conduct trials on a smaller scale within this year to iron out technical issues. Once this is done, he added, it could be expanded quickly to other districts. On a separate note, the welfare minister revealed that a guide will be published in July to help professionals from specific industries determine if they have to report cases of suspected child abuse. The Mandatory Reporting of Child Abuse Ordinance, set to take effect in January, would compel social welfare, education and healthcare practitioners to alert authorities of incidents involving physical, psychological or sexual abuse against minors. Those who fail to comply face up to a HK$50,000 fine and three months in prison. The government is now formulating a Mandated Reporter Guide which Sun said will save time and effort for those bound by the new regulation. "They can access a website and answer a questionnaire based on what they know about the case. Whether there were bodily injuries, et cetera, et cetera, the questions are not difficult," he explained. "There are also guidelines to help them choose the correct answer. After answering all the questions the guide will tell you if the case meets the criteria for mandatory reporting."
