The glorious demise of Democrat-run cities marches on with the news that nearly 160 Wall Street firms have fled New York City.
The glorious demise of Democrat-run cities marches on with the news that nearly 160 Wall Street firms have fled Democrat-run New York City, taking $1 trillion — with a “T” — in assets with them.
Looking to dodge rampant crime, stiff taxes and an increasingly exorbitant cost of living, 158 fed-up financial firms representing a whopping $993 billion in assets have packed up and left the Big Apple, taking thousands of high-paid employees with them, the data shows. In all, 56 of the New York firms have decamped to Florida, while most of those remaining also headed to warmer states such as Texas and the Carolinas, according to the report. New York isn’t the only major loser, with California also having lost $1 trillion in financial assets under management to Florida, Texas and other lower-cost states.
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