News Closeup: NYCHA’s heat crisis and what Wall Street volatility means for your money

The majority — 80 percent — of New York City residents living in NYCHA housing have suffered this winter without heat or hot water.

NYCHA claims it’s doing what it can with the resources it has. The agency blames some of the problem on city hall.

But others say it’s poor management and incompetence within the agency that is behind the problem. Marvin Scott talks to PIX11’s Monica Morales and City Councilmember Ritchie Torres, who have been at the forefront of tackling the heating crisis in the city.

Plus: this past week, the stock market took record breaking losses, leaving investors and traders bracing for more market volatility.

Some analysts say this is just a market correction from record highs just two weeks ago. But it may also have been spurred by concern that interest rates are about to rise.

Marvin Scott breaks it all down with economist Robert Brusca.