Wall Street must work with a mayor it couldn't stop

Wall Street heavy weights failed to stop New York City voters from electing a democratic socialist mayor. Now what?

- Kevin T. Dugan

There was an air of defeat on Tuesday evening in New York's upper echelons as it became clear that Zohran Mamdani had won the mayor's race. Some top figures in the city's finance industry found the notion of a Mamdani administration unthinkable and had spent millions to elevate other candidates.

Now, they have to work with the new mayor—and hope that their worst fears about his impact on the city’s business climate won't come true.