I have always enjoyed visiting New York City. I went to school there. My husband worked in a recording studio there when I met him. One of my daughters went to school there and lived there for a few years afterward. I loved visiting her–we walked everywhere and shopped till we dropped. I suspect that a lot of the things I loved about the city are about to change.
The New York Times has the full transcript of Mayor Mamdani’s speech. It includes:
Together, New York, we’re going to freeze the… [rent!] Together, New York, we’re going to make buses fast and… [free!] Together, New York, we’re going to deliver universal… [child care!]
If he can get these changes through the city council, these actions will have consequences. One of the consequences of his election is already occurring.
On November 3rd, The New York Post reported:
As Wall Street faces the prospect of left-wing firebrand Zohran Mamdani becoming the city’s next mayor, a fast-growing business hub down south is beckoning.
Dallas — whose grab bag of major business moguls has included Ross Perot, Mark Cuban and Jerry Jones — has more recently become a major draw for big financial firms that were born and raised in the Big Apple.
Goldman Sachs is building an 800,000-square-foot, $500 million campus in Dallas. It’s set to open in 2028 and consolidate over 5,000 employees. Last year, the mega bank hired Robert Kaplan, the former president of the Federal Reserve Bank of Dallas, as its vice chairman.
On November 5th, The University of Texas at Arlington reported:
A new financial powerhouse could soon emerge in the heart of Texas. The Texas Stock Exchange (TXSE), based in Dallas, has received approval from the U.S. Securities and Exchange Commission to operate as a national exchange—positioning it to compete with the New York Stock Exchange and Nasdaq. Backed by more than $160 million from major investment firms like BlackRock and Citadel Securities, TXSE plans to begin listing stocks by late 2026.
To explain what this means for businesses, investors and the Texas economy, The University of Texas at Arlington’s Sriram Villupuram, associate professor of finance, shares his insight. Villupuram, whose research focuses on corporate finance and capital markets, discusses how TXSE could reshape the financial landscape and the challenges it may face.
What exactly is the Texas Stock Exchange, and how does it differ from the New York Stock Exchange or Nasdaq?
Villupuram: The Texas Stock Exchange is a national securities exchange like the New York Stock Exchange (NYSE) and Nasdaq, and will compete with those exchanges. Both the NYSE and the Nasdaq have stringent listing requirements for prospective companies to list on their exchanges. In contrast, the Texas Stock Exchange is expected to facilitate the listing of relatively smaller companies.
Please follow the links to read the above two articles. I think the New York City residents who voted for Mamdani are in for a rude awakening.


