The jokes have always moved fast in the finance world.
Even back in the day when trades were consummated by telephone, after the "done on that" or "done your way" there was time for a yuck or two. During the crash of October 1987 the joke transmission circuit sort of ground to a halt because, well, trading ground to a halt. But by the morning of the 20th various versions of the "What does a—trader, broker, fund manager etc.—say after the crash: "Would you like fries with that" had made their way from New York to Honolulu and back before the margin clerks had even finished tallying up the damage from the 19th.
Same with Mamdani last night. The "No one has ever tried real socialism, heh" and "would the last one to leave turn out the lights, seriously" were circulating almost immediately.
And now this, via Sherwood News, June 25:
SL Green RealtySLG $58.76 (-5.19%) and VornadoVNO $36.34 (-5.51%) are down 5% on Wednesday afternoon as investors digest the recent surprise win of Zohran Mamdani in New York City’s mayoral primary.
Mamdani, a Democratic Socialist, ran on a platform to make the city more affordable by freezing rents and eliminating bus fares. His proposals include hiking the state’s corporate tax rate and introducing a 2% income tax on New Yorkers making over $1 million a year.
The results are being seen as a blow to SL Green, the city’s largest commercial landlord. The real estate investment trust (REIT) owns or holds stakes in 55 buildings totaling nearly 31 million square feet, the majority of which are in Manhattan. Vornado, for its part, boasts 20 million square feet of office space in New York City....
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Chicago's largest circulation newspaper, the Chicago Tribune, published this editorial on June 23:
Editorial: Want to know how a socialist mayor would govern New York City? Ask ChicagoNow that's funny.
