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Mamdani’s Wall Street courtship sparks criticism of anti-billionaire agenda
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Socialist New York City Mayor Zohran Mamdani is courting powerful Wall Street leaders after months of attacking wealthy New Yorkers and pushing higher taxes on corporations.
Given New York City’s outsized role in U.S. banking, investing and corporate headquarters, business leaders warn financial instability in the Big Apple could reverberate nationwide.
Mamdani’s meetings this week with JPMorgan Chase CEO Jamie Dimon and Goldman Sachs CEO David Solomon underscored growing concerns that the mayor’s push to tax wealthy individuals and businesses could clash with the financial sector that underpins the city’s economy.
And critics tell Fox News Digital that they view the sit-downs as part of a growing contradiction at the center of his economic agenda in the world’s largest business and finance hub.
BLUE-STATE TAX BURDEN FUELS AMERICANS FLEEING TO REPUBLICAN-LED SOUTHERN STATES
Jamie Dimon, CEO of JPMorgan Chase, met with New York City Mayor Zohran Mamdani in May as the mayor seeks to reassure business leaders amid debate over his proposed tax policies. (Alexander Tamargo/Getty Images for America Business Forum)
«The Mamdani administration has come to recognize that so much of their agenda depends on having successful businesses and wealth creators in the city,» Manhattan Institute economic policy expert Adam Lehodey told Fox News Digital.
«Simply alienating them isn’t going to solve any of New York’s problems,» he added.
Lehodey argued the city cannot fund progressive priorities like free childcare and subsidized housing without strong tax revenue and a healthy private sector. He warns that a «tax-the-rich strategy» could worsen the city’s economic challenges because it might discourage investment in New York.
«It’s a good thing that he’s meeting with them, but now he needs to follow up and deliver something substantive,» Lehodey said. «The current tax-the-rich strategy is only going to worsen the problems unless he follows up and says, ‘Let’s look at what we can do to make it easier to invest in New York State and New York City.’»
Mamdani’s outreach has also extended beyond major banking executives.
The socialist mayor recently reached out to Citadel founder Ken Griffin after previously criticizing the billionaire hedge fund manager over his Manhattan penthouse and personal wealth. Mamdani stood outside Griffin’s multi-million-dollar property in the city to tout his proposal for higher taxes on second homes in NYC worth more than $5 million.
CHICAGO KNOWS WHAT HAPPENS WHEN KEN GRIFFIN TURNS ON A CITY, NOW MAMDANI MAY FIND OUT
Citadel told FOX Business that Griffin «welcomes thoughtful, serious conversations about the policies that can grow the city’s economy and create more opportunity for all New Yorkers,» while cautioning that «reckless political theater serves no purpose.»
Amazon founder Jeff Bezos supported Griffin when on Wednesday he criticized Mamdani’s rhetoric toward wealthy business leaders. The world’s fourth-richest person accused politicians of using an «age-old technique» of «picking a villain and pointing fingers.»
FROM FREE BUSES TO CITY-OWNED GROCERY STORES, HERE ARE MAMDANI’S KEY ECONOMIC PROMISES
«It isn’t right… to stand in front of Ken Griffin’s house and act like he is some kind of villain,» Bezos told CNBC. «Ken Griffin isn’t a villain, he hasn’t hurt anybody, he’s not hurting New York, in fact quite the opposite.»
While Bezos said debates over raising taxes on top earners are legitimate, he criticized what he described as the «vilification» of wealthy Americans and argued that overspending — not insufficient tax revenue — is the root of the nation’s fiscal problems.
The tensions underscore the difficult balancing act facing the mayor of the nation’s financial capital: Wall Street and high-income taxpayers generate a major share of New York City’s tax revenue, even as progressive activists push for a more aggressive redistribution of wealth.
The Citadel founder is clashing with New York City Mayor Zohran Mamdani over taxes targeting the ultra-wealthy and intensifying crime, reviving the same tensions that drove him to pull his business and billions out of Chicago. (Spencer Platt/Aaron Schwartz/Bloomberg/Getty Images / Getty Images)
Nicole Huyer, a senior policy analyst at The Heritage Foundation, characterized the meetings with Dimon and Solomon as an effort to repair strained ties with New York’s business community after Mamdani’s «tax the rich» campaign rhetoric.
She cautioned that policies perceived as hostile to corporations and wealthy taxpayers could accelerate corporate and capital flight from New York, pointing to Griffin’s relocation to Florida as one example.
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«Jamie Dimon and David Solomon lead two of the nation’s most influential financial institutions and have enormous influence over the financial sector and labor market,» Huyer told Fox News Digital. «If policies drive major firms or wealthy taxpayers out of New York City, the impact on tax revenue, jobs and broader economic activity could be significant.»
Huyer added that «pitching class warfare and then pivoting to court Wall Street executives risks appearing politically performative.»
zohran mamdani, new york city, taxes, banking finance, new york, economy, politics
INTERNACIONAL
Inside Fauci’s private diary: What he wrote about Trump, TV personalities and celebrities
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Newly released diary entries by Dr. Anthony Fauci offer an unfiltered look at what the nation’s top infectious disease expert really thought of the politicians, television personalities and celebrities who filled his orbit during the COVID-19 pandemic.
Released by Senate Homeland Security Committee Chairman Rand Paul, R-Ky., the diaries chronicle Fauci’s day-to-day role during the COVID-19 pandemic through meetings, phone calls and personal observations. The release comes days before Fauci is scheduled to testify before the Senate Homeland Security and Governmental Affairs Committee after being subpoenaed by Paul.
The entries feature everyone from President Donald Trump to Julia Roberts, Steph Curry, Larry Ellison and Hunter Biden, offering an unusually personal look at the people who crossed Fauci’s path during the COVID-19 pandemic.
Early entries portray a warm working relationship between Fauci and Trump. Fauci wrote that Trump repeatedly directed questions to him during White House meetings, called him «the smartest person in the world,» told him, «We are counting on you,» and later appeared «enamored» with him as Fauci’s national profile grew.
FAUCI’S NEWLY RELEASED COVID DIARIES REVEAL BIZARRE FIXATION ON FAME AS PANDEMIC DEATHS MOUNTED
President Donald Trump and Dr. Anthony Fauci are seen during a White House Coronavirus Task Force briefing. Fauci’s newly released diary portrays an initially warm working relationship that later deteriorated as the pandemic unfolded. (Jabin Botsford/The Washington Post via Getty Images)
Fauci’s relationship with White House chief of staff Mark Meadows deteriorated throughout the pandemic. Fauci wrote that Meadows threatened to keep him off television, repeatedly pushed him to soften his public messaging and, in one entry, recounted Meadows «screaming» over his public comments.
Fauci, however, repeatedly described then-White House communications director Alyssa Farah as an ally during internal battles over media appearances. In one May 2020 entry, he wrote that Farah admitted White House staff had been «holding me back,» said the situation had «gotten out of hand» and promised to begin clearing his television requests again.
Not everyone in the administration’s communications operation earned Fauci’s praise. In a July 2, 2020 entry, Fauci called then-HHS Assistant Secretary for Public Affairs Michael Caputo «a con man who is completely full of sh–,» writing that Caputo publicly claimed to support his television appearances while privately blocking them.
Television journalists also became recurring figures in Fauci’s diary. CNN anchor Jake Tapper appears repeatedly, with Fauci documenting phone calls, text exchanges and dinners at the Tappers’ Washington home.
LEGACY MEDIA IGNORES MASSIVE ANTHONY FAUCI DOCUMENT RELEASE ALLEGING HE MISLED CONGRESS ON COVID ORIGINS
CNN anchor Jake Tapper appears repeatedly in Dr. Anthony Fauci’s newly released COVID-19 diary, which documents phone calls, text exchanges and dinners at Tapper’s Washington home. (Bryan Bedder/Variety/Getty Images)
Fauci wrote that Tapper privately checked to make sure a CNN interview hadn’t caused problems with the White House. When The Atlantic’s Peter Nicholas suggested Fauci had been «humiliated» over a canceled Tapper interview, Fauci fired back in his diary: «F— you, Peter.»
After Fauci’s heated exchange with Ohio Rep. Jim Jordan, Fauci wrote that CNN’s Dana Bash texted him, telling him he was «a better man» and relaying that fellow CNN anchor Wolf Blitzer had joked no one would have blamed Fauci if he had told Jordan to «go f— yourself.»
The following day, Fauci wrote that Bash texted him again, this time pointing him to a Vanity Fair headline mocking Jordan’s performance at the hearing.
The diary also features colorful asides about billionaire Oracle co-founder Larry Ellison, whom Fauci described as «a bit of a loose cannon» while discussing White House efforts to use Oracle technology during the pandemic.
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Fauci served as chief medical adviser to President Donald Trump during the COVID-19 pandemic before later continuing in the role under President Joe Biden. (Win McNamee/Getty Images)
Beyond politicians and White House aides, Fauci’s diary reads at times like a Hollywood guest list. Actress Julia Roberts hosted Fauci on Instagram Live, sent him flowers and later presented him with an award, while Vogue editor Anna Wintour, comedian Trevor Noah, NBA star Steph Curry, actors Sean Penn and Matt Damon, and rapper Lil Wayne also make appearances as Fauci documented his growing celebrity during the pandemic.
The diary closes with another unexpected cameo. At the 2022 Kennedy Center Honors, Fauci wrote that he hugged Hunter Biden, who joked the internet «would explode» if someone photographed them together because they were both «being attacked by the far right GOP.»
anthony fauci, white house, donald trump, politics, fox news media, coronavirus
INTERNACIONAL
El precio del petróleo se desplomó más de un 5% tras la pausa en los ataques entre Estados Unidos e Irán
Los precios internacionales del petróleo iniciaron la semana con un marcado descenso después de que los mercados reaccionaran a una disminución temporal de la tensión entre Estados Unidos e Irán. La ausencia de nuevos ataques estadounidenses durante dos noches consecutivas generó expectativas de que ambas partes puedan retomar las negociaciones, lo que redujo la preocupación por una interrupción prolongada del suministro de crudo desde Medio Oriente.
En las primeras operaciones de los mercados asiáticos, el barril de Brent, referencia para buena parte del comercio mundial de petróleo, perdió un 5,58% y se situó en 91,38 dólares. En paralelo, el West Texas Intermediate (WTI), utilizado como referencia en Estados Unidos, descendió un 5,46% hasta los 84,43 dólares. La corrección puso fin al fuerte impulso alcista registrado durante las semanas anteriores, cuando el conflicto elevó el temor a una crisis energética de mayor alcance.
El movimiento del mercado estuvo estrechamente vinculado a la evolución del escenario geopolítico. Durante las últimas dos noches no se registraron nuevos bombardeos estadounidenses sobre Irán, una interrupción que fue interpretada por los operadores financieros como una señal de que aún existe margen para una solución negociada.
El embajador de Estados Unidos ante las Naciones Unidas, Mike Waltz, confirmó esa posibilidad al afirmar que el presidente Donald Trump está dando “un poco de margen” a los contactos diplomáticos con Teherán. No obstante, dejó claro que Washington mantiene abiertas todas las opciones.
“El ejército estadounidense (…) tiene todo lo necesario para llevar a cabo esta campaña con la eficacia que se requiere”, declaró durante una entrevista con Fox News.
El portavoz del ejército iraní, Mohammad Akraminia, aseguró que las operaciones de represalia fueron suspendidas tras el cese de los ataques estadounidenses.
“Estos ataques continuaron hasta hace dos noches, pero durante las dos últimas noches los estadounidenses han cesado sus ataques”, afirmó, al tiempo que agregó que, debido a que la estrategia iraní había sido responder a las ofensivas estadounidenses, “también hemos suspendido nuestras operaciones de represalia”.
La evolución del conflicto tiene un impacto directo sobre el mercado energético porque gran parte de las exportaciones mundiales de hidrocarburos dependen del estrecho de Ormuz. Ese corredor marítimo conecta el Golfo Pérsico con el océano Índico y, en condiciones normales, permite el tránsito de aproximadamente una quinta parte del petróleo y del gas natural licuado que se consume diariamente en el mundo.
Las tensiones militares en esa zona habían disparado las primas de riesgo durante las últimas semanas debido al temor de interrupciones en el transporte marítimo. La posibilidad de una disminución de las hostilidades alimentó la expectativa de que la navegación pueda normalizarse progresivamente, reduciendo así la presión sobre la oferta global de petróleo.
Sin embargo, el mercado continúa atento a otros factores que podrían alterar el equilibrio del suministro. Entre ellos figura el bloqueo marítimo anunciado por los rebeldes hutíes de Yemen contra puertos de Arabia Saudita, una medida que añade incertidumbre sobre las rutas comerciales de la región y mantiene elevado el nivel de vigilancia entre los operadores.
La caída de este lunes contrasta con la fuerte escalada registrada durante julio. A medida que aumentaban los enfrentamientos entre Washington y Teherán, el petróleo acumuló importantes ganancias impulsado por el temor a una expansión del conflicto. Antes de esta nueva escalada, un entendimiento alcanzado entre ambos países el 17 de junio había favorecido un descenso de las cotizaciones, con el Brent negociándose apenas por encima de los 70 dólares.
Aunque la pausa en las operaciones militares alivió momentáneamente la presión sobre los mercados energéticos, la evolución de las negociaciones entre Washington y Teherán seguirá siendo el principal factor para determinar el comportamiento del precio del petróleo en los próximos días.
Middle East
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Europe will one day thank Trump for ‘shaking’ it out of its ‘complacency’: UK defense chief
Trump says NATO allies had a ‘bad moment’ for not helping in potential Iran war
President Donald Trump, speaking at the NATO Summit in Ankara, Turkey, criticizes Spain, Italy and the UK for not offering immediate support to the U.S. in a potential conflict with Iran. Trump describes their response as a ‘bad moment’ but later emphasizes the ‘tremendous unification’ among NATO members, expressing mutual love and respect.
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The U.K.’s new defense secretary said Sunday that Europe will ultimately thank President Donald Trump for waking up the continent from its complacency and forcing NATO allies to take responsibility for their own security.
Speaking on Sky News, Wes Streeting also signaled a rebalancing of the U.K. government’s transatlantic stance under new Prime Minister Andy Burnham while stating that Britain continued to refuse to back U.S. offensive military action against Iran.
«The first thing you do is you don’t suck up, and… my impression is President Trump, his administration… that’s not what they’re looking for, actually,» Streeting told Sky News anchor Trevor Phillips, stating his perspective on Washington.
«He’s a straight talker. He says what he means and means what he says.»
ANDY BURNHAM TAKES OVER AS UK PRIME MINISTER, CALLS FOR ‘NEW POLITICAL MODEL’
British Secretary of State for Defence Wes Streeting said that Europe will one day thank President Donald Trump for shaking Europe out of its strategic complacency and forcing NATO allies to shoulder more of their own defense. (Carl Court/Getty Images)
«I don’t know him, but I do trust the United States,» he added.
Streeting took charge of the U.K. Ministry of Defence on July 20, the same day Burnham became prime minister.
«I’ve not even been in the job a week. I’ve always been aware that the alliance between the U.S. and the U.K. is unlike any in the world, and of course, that’s historic, it’s cultural, it’s political,» Streeting said. «It’s driven by self-interest as well as mutual shared interests.»
During his first week in office, Streeting also had a call with Secretary of War Pete Hegseth to discuss maritime security in the Strait of Hormuz and broader NATO commitments.
«But just in my first week as defense secretary, I have had a unique insight into just how close and integral that relationship is when it comes to defense and security,» Streeting explained.
UK DEFENSE SHORTFALLS HIGHLIGHTED AS BRITAIN AVOIDS IRAN OFFENSIVE ROLE AMID TRUMP CRITICISM
Streeting said he was «very keen and pleased» to meet with his American counterpart, War Secretary Pete Hegseth. (Joe Raedle/Getty Images)
«And it’s one of the reasons why I was very keen and pleased in the first week to meet with my U.S. counterpart, Pete Hegseth, where I was clear that we’ve not supported offensive action in Iran, and we won’t support offensive action in Iran,» he continued. «But there are plenty of things that we can and should do together when it comes to securing the Strait of Hormuz, in making sure that Iran doesn’t develop nuclear weapons, in terms of investing in our capability and NATO’s capability.»
Trump has long criticized European NATO members for failing to spend enough on defense, arguing they should shoulder a greater share of the alliance’s security burden.
WHO IS ANDY BURNHAM? THE TRUMP CRITIC SET TO BECOME THE UK’S NEXT PRIME MINISTER
«And one of the things I’d say about President Trump specifically… we don’t always like what he says. We don’t always like his methods,» Streeting said. (Stoyan Nenov/Reuters)
At July’s NATO summit in Turkey, Trump pressed allies to follow through on their commitments to increase defense spending.
«And one of the things I’d say about President Trump specifically: we don’t always like what he says, we don’t always like his methods,» Streeting said. «But I genuinely think when this period of history is written, Europe will thank President Trump for shaking us out of our complacency and forcing us to stand on our own two feet and end the period of overreliance on the United States for defense because what he said about Europe isn’t unique to President Trump, the MAGA movement or the Republican Party.»
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«This has been a longstanding grain of U.S. frustration with Europe under Democratic and Republican presidents, and in the world we live in, it is right that we can act to secure ourselves,» he added.
Streeting also said the U.K. could «act with our allies here in Europe and, of course, work with the United States without being overly dependent to the extent that NATO and Europe has been.»
Fox News Digital has reached out to 10 Downing Street for further comment.
united kingdom, andy burnham, donald trump, pentagon, iran
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