Wall Street shivers over ‘hot commie summer’ after Mamdani’s success

<p>New York’s financial elite compare the city to crime-riddled Gotham after democratic socialist bests Cuomo in Democratic mayoral primary</p><p>When Zohran Mamdani, a 33-year-old self-described socialist, won New York’s mayoral Democratic nomination last week over a seasoned but scandal-scarred veteran, the city’s financial elite had a meltdown.</p><p>This was the start of “hot commie summer” in the city, New York hedgevfund billionaire Daniel Loeb <a href="https://x.com/DanielSLoeb1/status/1937800092255183096">posted to X</a>. John Catsimatidis, billionaire CEO of grocery chain Gristedes and friend of Donald Trump, warned on Fox Business: “If the city of New York is going socialist, I will definitely close, or sell, or move.”</p> <a href="https://www.theguardian.com/us-news/2025/jun/28/hot-commie-summer-zohran-mamdani">Continue reading...</a>