Paterson sees slow rebound for Wall Street, nation

ALBANY — New York Gov. David Paterson plans to meet with legislative leaders next week in a public session to deal with losses of tax revenue and jobs from Wall Street’s meltdown.

The public leaders’ meeting Oct. 3 in Manhattan will be days after the administration receives the second quarter fiscal report that is expected to show steep declines in revenues from a string of failures in the financial sector. Wall Street revenues — business taxes and income taxes — account for about a fifth of state revenues.

The meeting doesn’t mean the Legislature would return to act before Nov. 4, when every seat is up for election.