Wall Street firms are fleeing New York City and have been doing so for a few years now. It has reportedly cost the city a trillion dollars. A TRILLION.
The reasons for this are obvious. Crime, homelessness, lawlessness, and the never-ending flow of illegal immigrants into the city.
This is happening at the same time that the illegal immigrants are costing the city millions of dollars a day. It’s an absolute disaster for the Big Apple.
New York loses $1 trillion in Wall Street business as firms flee the city: report
A giant, sucking sound is coming out of Wall Street — and it’s siphoning staggering sums of money out of the Big Apple while handing business to Florida and other states farther south.
Nearly 160 Wall Street firms have moved their headquarters out of New York since the end of 2019, taking nearly $1 trillion — yes, that’s trillion with a “T” — in assets under management with them, according to data from 17,000 companies compiled by Bloomberg.
