Mamdani pressures regulators to block $500M – Business News
There he Zos again.
Mayor Zohran Mamdani again stoked fears he’s fostering an anti-business blitz in New York City after he tried stress state regulators to block a $500 million merger deal, in accordance to a new report.
Hizzoner urged the New York State Department of Financial Services final month to block money switch service Western Union’s $500 million deal for Intermex — a financial companies company that focuses on serving to transfers to Latin America, in accordance to a letter reviewed by Semafor.
Mayor Mamdani is attempting to stress state regulators to block a $500 million merger deal in his newest anti-business blitz, in accordance to a new report. J.C. Rice for NY Post
“This merger threatens to impose a new private tax on these same remittances, in the form of higher, supracompetitive prices that will flow directly to Western Union’s corporate coffers,” Mamdani wrote.
Mamdani butting in serves as the most recent instance of the mayor’s attempt to flex his socialist bona fides in what critics say is pushing ideology over working the day-to-day operations of the town, with probably disastrous outcomes for the native financial system.
“The people he says he is helping—those who suffer most from rising prices, and affordability issues—will be hurt the worst by the mayor’s behavior,” veteran Democrat strategist Hank Sheinkopf mentioned. “The rich leave, jobs leave. Middle income New Yorkers leave, jobs leave. And tax dollars go with them.”
A rep for the mayor didn’t instantly reply to a request for remark.
