Mamdani’s NYC victory leaves Wall Street ‘alarmed’ and ‘depressed’
It is insufficient to say that Wall Street is not a fan of Zohran Mamdani.
In fact, high -profile investors and business leaders in Big Apple are in weapons about the striking win of the Democratic Socialist to win a democratic candidacy to serve as the next New York Mayor. Three-term Parliament’s potential victory in the November general elections, the street can bring the things that the most hated the most-more tight regulation that threatens corporate and investment interests.
Philippe Laffont, the founder of Hedge Fund Coatue Management, said that a Mamdani win to CNBC could trigger another migration of rich investors. Since the Pandemi, the wave of rich residents and corporate companies has escaped from the country’s largest city for low -efficiency states such as Florida and Texas.
“Some people, absolutely will go, Laf Lafont said, CNBC’s former New York Governor Andrew Cuomo’s accepting democratic candidacy in” Squawk Box “on Wednesday. “It is not over yet. There is still an election. Maybe Cuomo will re -enter independently.”
Emphasizing Mamdani’s redistribution of socialism and the rejoice, Wall Street resists the preference of uninformed capitalism and policies that support growth such as deregulation and low taxes. The 33 -year -old supported the taxation of ultra -rich, financial transactions and passive revenues such as dividends. It also increased the marginal income tax rates for a state -level reserve tax and high gains.
Hedge Fund boss Bill Ackman, Mamdani’nin victory on Wednesday “a little depression” awakened, he said. The Chief of Pershing Square said he was looking at the logistics of another candidate, not himself.
Former Treasury Secretary and Harvard University President Lawrence Summers also expressed the nomination of unpleasant Mamdani.
“I’m deeply worried about your future. [Democratic National Committee] And the country, yesterday’s NYC’s ‘intifada’ slogan, and the appointment of a candidate who could not globalize and defend Trotskyite economic policies, said in an article in Summers X.
‘Suicide by the mayor’
Part of the stock market has already felt the pain from the possibility of a NYC led by Mamdani. New York Regional Bank Flagstar shares, exposed to the New York Real Estate Market, sank about 4% on Wednesday. Office -oriented real estate stocks have also reduced SL Green Realty more than 6% and about 7% of Vornado Realty Trust.
Mamdani defends universal rent control and the Mayor of New York has the power to appoint representatives to the regulatory committee that controls the rent -controlled and lease stabilized apartments. A pause in rent increases will damage the profits of multi -family rental properties.
Roughly One million New York City apartment rent is stable However, only 20,000 people are rent -controlled.
“Apparently NYC chooses to commit suicide by the Mayor of NYC,” Bianco Research President and Macro Strategist Jim Bianco said in an article on Tuesday evening. He said.
‘Terror feeling’
Mam Mamdani’s solution to most problems is based on an ideological commitment for expenditures financed by the taxpayer, which worries the business world, said Kathryn Wylde, President of the New York Partnership, a non -profit CEO group established by David Rockefeller in 1979.
“Terror is emotion,” Wylde said on Tuesday morning voters on the way to surveys, CNBC said, “It is very positive in New York. But if we lose confidence in the mayor, this may change rapidly.”
Wylde, Gov. He said that the state government, led by Kathy Hochul, should keep the city away from the “disaster” scenario. He accepted concerns about high life and cost of doing business, but he said that raising taxes was not a solution.
Some of the most powerful support of former Governor Cuomo came from the Upper East Side of Manhattan, which hosts most of New York’s highest winners and business titans. Former Secretary of the Ministry of Housing and Urban Development under the direction of Clinton Associated Press Data as of Wednesday.
In 2013, Bill de Blasio’s victory triggered anxiety among the financial elite, but before implementing comprehensive reforms, he was able to relieve fears by directing business leaders.
“There was Mayor Deblazio for eight years. New York is really strong. I hope the same thing will happen.” He said.
