Mayor Zohran Mamdani again stoked fears he’s fostering an anti-business blitz in New York City after he tried pressure state regulators to block a $500 million merger deal, according to a new report.
Hizzoner urged the New York State Department of Financial Services last month to block money transfer service Western Union’s $500 million deal for Intermex — a financial services company that focuses on helping transfers to Latin America, according to a letter reviewed by Semafor.
Mayor Mamdani is trying to pressure state regulators to block a $500 million merger deal in his latest anti-business blitz, according 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 latest example of the mayor’s attempt to flex his socialist bona fides in what critics say is pushing ideology over running the day-to-day operations of the city, with potentially disastrous results for the local economy.
“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 said. “The rich leave, jobs leave. Middle income New Yorkers leave, jobs leave. And tax dollars go with them.”
A rep for the mayor did not immediately respond to a request for comment.
