Nolte: Democrat-Run NYC Loses $1 Trillion as Wall Street Firms Flee

New York Mayor Eric Adams attends a press conference on gun violence prevention and public
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The glorious demise of Democrat-run cities marches on with the news that nearly 160 Wall Street firms have fled Democrat-run New York City, taking $1 trillion — with a “T” — in assets with them.

Meanwhile, this same New York City, which is a proud sanctuary city, is drowning under tens of thousands of illegal aliens.

Oh, how I love it when people get what they voted for:

Nearly 160 Wall Street firms have moved their headquarters out of New York since the end of 2019, taking nearly $1 trillion — yes, that’s a trillion with a “T” — in assets under management with them, according to data from 17,000 companies compiled by Bloomberg.

Looking to dodge rampant crime, stiff taxes and an increasingly exorbitant cost of living, 158 fed-up financial firms representing a whopping $993 billion in assets have packed up and left the Big Apple, taking thousands of high-paid employees with them, the data shows.

Yes, you smug New Yorkers, with your terrible choices and ideas, you basically voted to boot 158 Wall Street firms, their employees and families, and then replace them by importing third-world gangs and welfare scammers.

But at least the mean tweets have ceased.

And where are these 158 Wall Street firms moving? Mostly to our MAGA Utopia, of course. To the South. To Florida and other southern states where we lock up criminals, where our streets, air, and water are clean and safe, where everyone owns a gun but there’s almost no gun violence, where people of all races and creeds live together in relative harmony; where hate crimes, mass shootings, and carjacking are rare; where you can walk the streets at night; where the schools don’t groom, and people mostly mind their own business:

In all, 56 of the New York firms have decamped to Florida, while most of those remaining also headed to warmer states such as Texas and the Carolinas, according to the report. New York isn’t the only major loser, with California also having lost $1 trillion in financial assets under management to Florida, Texas and other lower-cost states.

Imagine what this drain is doing to New York’s tax base. The city is losing all these millionaires and billionaires. And who’s going to fill all that office space? Who’s going to continue to fund the Lincoln Center and the like? Who will buy or lease those empty apartments and homes?

Leftism is always a recipe for failure, always. Sadly for the left, free people are free to flee leftism, to vote with their feet. See ya!

Don’t feel bad for New York. This is what New York wants. And I hope they get more… A lot more.

Follow John Nolte on Twitter @NolteNC. Follow his Facebook Page here.


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