Can NYC Weather This Financial Hurricane?


Wall Street is New York City and New York City is Wall Street. From the facade of the New York Stock Exchange to the skyscrapers dotting Park Avenue, financial landmarks give the city its character and the people inside them make the Big Apple go.

Wall Street workers pay a quarter of the city's taxes and every high-paying financial job supports three others.

Batten down the hatches. A financial hurricane is about to sweep across the region taking aim at steakhouses, schools, the real estate market and more.

But every cloud has a silver lining and there might be some fast money in this one.

A couple companies have very direct exposure to New York City real estate, explains Karen Finerman. Vornado is one of them. I shorted it early Monday then covered my bet late day. You could also look at shorting the iShares Dow Jones US RealEstate or Boston Properties . But I wouldn't do that immediately. They've already taken quite a hit.

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Trader disclosure: On Sept 22, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Pete Najarian Owns (AAPL) And (AAPL) Puts; Pete Najarian Owns (ETFC), (MYL); Pete Najarian Owns (MS) And (MS) Puts; Pete Najarian Owns (RIMM) Call Spread; Pete Najarian Owns (TSO) Call Spread; Pete Najarian Owns (WB) Put Spread; Finerman Owns (GS); Finerman's Firm Owns (RIG), (PDE), (WM), (MO), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm Is Short (VNO), (WFC), (IYR), (IJR), (MDY), (SPY), (IWM), (BBT), (COF); Seymour Owns (AAPL), (COP), (ETFC), (MER), (TSO); Seygem Asset Management Owns (PTR), (EEV); GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"