FROM WALL STREET TO Y’ALL STREET: Escape from New York: Bankers flee Mamdani for Texas.

“Suddenly you’ll have an exodus of folks who are generating quite a bit of profit,” says investment banker Philip Blancato, chief executive of Wall Street firm Ladenburg Thalmann.

“It’s already happening, this is just going to accelerate it.”

In response, Wall Street’s top earners are turning to an unlikely corner of the country to shelter from Mamdani’s tax raid: Texas.

Or, more specifically, Dallas, where the booming financial district – nicknamed “Y’All Street” – benefits from a lower-tax, lower-regulation environment than New York.

For some, Mamdani’s new regime means Texas is on course to take New York’s crown as the financial capital of America.

“It’s hard to remain a financial capital when you despise capitalism. Cities run by people who have never run a business or met a payroll are killing their own proverbial golden goose,” says Chris Furlow, chief executive of the Texas Bankers Association.

Good and hard, Fun City. From yesterday’s Power Line Week in Pictures: