Wall Street Bonanza Won’t Save NYC’s Finances, Mamdani Warns

Wall Street’s booming year will not be enough to stave off a financial crisis that Mayor Zohran Mamdani says is worse than the Great Recession nearly two decades ago.

“Wall Street’s announcement is something that is very encouraging and frankly will be helpful in dealing with a $12 billion fiscal deficit,” Mamdani said in an interview on Bloomberg Television’s Balance of Power on Thursday.