MESSAGE
| DATE | 2025-06-25 |
| FROM | Ruben Safir
|
| SUBJECT | Subject: [Hangout - NYLXS] A Bigot for Mayor..rocks wall st
|
ning, the world’s epicenter of capitalism woke up to find it might soon
have a socialist mayor.
Democratic socialist Zohran Mamdani’s stunning win over former Gov.
Andrew Cuomo in the New York City Democratic primary for mayor shocked
Wall Street. Some of the world’s most influential and powerful
financiers were left grasping to understand what Mamdani’s victory would
mean for their industry—and whether they would leave the city.
“It’s officially hot commie summer,” Dan Loeb, chief executive of hedge
fund Third Point, and a major Cuomo backer, wrote on X.
Mamdani’s campaign was, up until a few weeks ago, a long shot. On
Polymarket, which successfully predicted the outcome of the 2024
presidential election, Cuomo had odds as high as 92.5% on May 27.
Negative ads against Mamdani paid for by Wall Street-funded super
political-action committees, as well as also-ran candidate Whitney
Tilson—himself an investor—blanketed airwaves and filled residents’
mailboxes.
Mamdani’s platform includes increasing taxes on those making more than
$1 million a year. He has said he would make the city more affordable by
freezing rents on rent-stabilized apartments, investing $70 billion in
publicly subsidized housing, providing free bus service and opening
government-operated grocery stores.
Cuomo’s lock on Wall Street was all but taken for granted. He had the
loud backing from billionaire figures such as Bill Ackman, Loeb and
former Mayor Michael Bloomberg.
On Tuesday night, Mamdani’s win became apparent soon after polls closed:
A nine-point lead in early votes held about steady as the day-of voting
results came in. Cuomo conceded before the end of the night, leaving
open questions of whether he will run in the general election in November.
Wall Street quickly started to worry.
“There are a lot of warning signs flashing here. The next mayor here is
going to have his hands full,” said Ed Skyler, a former deputy mayor
under Bloomberg, who is now an executive at Citigroup.
Some of the financial executives spoke of backing Mayor Eric Adams, who
is expected to run in November election under party lines he created:
“Safe&Affordable” and “EndAntiSemitism.” Financial titans had found
Adams an early improvement from his predecessor Bill de Blasio.
Corporate leaders held a flurry of private phone calls to plot how to
fight back against Mamdani’s primary victory and discussed backing an
outside group with the goal of raising around $20 million to oppose him,
according to people familiar with the matter.
The calls also discussed efforts to coalesce behind Adams and working to
keep Cuomo out of the race, the people said. They also discussed trying
to get Republican candidate Curtis Sliwa, to drop out by getting the
White House to offer him a job in the Trump administration, the people said.
Not everyone was downbeat about the primary results, though. On CNBC,
Philippe Laffont, founder of hedge fund Coatue Management, said the city
would likely continue to thrive, arguing that it withstood the tenure of
de Blasio, who embraced policies that some in the business community
opposed.
“We had Mayor de Blasio for eight years, New York is really strong, I’m
hopeful the same will happen,” he said on CNBC’s “Squawk Box.” “And
there’s still an election.”
Corporate leaders held a flurry of private phone calls to plot how to
fight back against Mamdani’s primary victory and discussed backing an
outside group with the goal of raising around $20 million to oppose him,
according to people familiar with the matter.
The calls also discussed efforts to coalesce behind Adams and working to
keep Cuomo out of the race, the people said. They also discussed trying
to get Republican candidate Curtis Sliwa, to drop out by getting the
White House to offer him a job in the Trump administration, the people said.
Not everyone was downbeat about the primary results, though. On CNBC,
Philippe Laffont, founder of hedge fund Coatue Management, said the city
would likely continue to thrive, arguing that it withstood the tenure of
de Blasio, who embraced policies that some in the business community
opposed.
“We had Mayor de Blasio for eight years, New York is really strong, I’m
hopeful the same will happen,” he said on CNBC’s “Squawk Box.” “And
there’s still an election.”
--
So many immigrant groups have swept through our town
that Brooklyn, like Atlantis, reaches mythological
proportions in the mind of the world - RI Safir 1998
http://www.mrbrklyn.com
DRM is THEFT - We are the STAKEHOLDERS - RI Safir 2002
http://www.nylxs.com - Leadership Development in Free Software
http://www.brooklyn-living.com
Being so tracked is for FARM ANIMALS and extermination camps,
but incompatible with living as a free human being. -RI Safir 2013
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