Zohran Mamdani's victory in the Democratic primary alarmed New York City's elite, leading to a rapid emergency response among business leaders and landlords. Their panic stemmed not just from Mamdani's proposals, like tax increases on the wealthy and rent freezes, but also from his challenge to the established political power dynamics. The elites, accustomed to dictating outcomes, found themselves powerless and scrambling for strategies in response to the unexpected shift in political control, highlighting their vulnerability and the looming change in governance.
"It was not so much Mamdani's specific proposals that seemed so objectionable: A stabilized rent freeze would hurt some landlords but not others; free bus service was something Michael Bloomberg once tried to implement."
"A political whisperer I know - one of those expensive consultants who understands the city - told me a billionaire had called her up wondering what to do next."
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