Dickie Dunn said it best...
"I think there are a lot of shysters in Florida."
Posted on 11/25/2023 7:14:40 AM PST by Salman
Let’s face it. Anyone who works in, or just visits, the Wall Street area of Manhattan can’t deny the aura of power and money isn’t what it was 20, 30 or 50 years ago.
The vibrancy, the financial dominance, the gusto seems to have gone missing — so have many of the Gordon Gekko high rollers. Today, Wall Street is less crowded. It’s sleepier. There aren’t exactly tumbleweeds blowing down Broad Street past the New York Stock Exchange, but it’s not the bustling place where the financial titans and the world’s money changers hang out anymore.
To borrow a line from Austin Powers: Wall Street has lost its mojo.
...
In years past, there was a worry that London or Tokyo or even Beijing would knock Manhattan off its exalted pedestal as the financial center of the universe.
Fortunately, that never happened. But now the latest threat is clear and present. And it’s coming from … South Florida!
...
(Excerpt) Read more at takimag.com ...
Great, just what we need, more liberals coming here.
What good is having gazillions of dollars if you have to live in Tulsa?
“These Americans on the move have taken their money and businesses with them.”
Mayor Bloomberg, now three administrations back, vocalized this very thing.
You can’t vote your way out of stupid.
Interesting post.
The big question for the future is whether physical location matters at all.
Financial transactions are almost all remote these days—whether corporate or personal.
Do investors really care where Vanguard is located?—it could be anywhere and everywhere.
They tried, but they didn’t have the big investment, as opposed to integrated, banks.
And they were Charlotte.
Rich people don’t just live in one place—they have houses in different states and countries.
If they have friends and relatives in Tulsa they probably keep one home there for entertaining them.
Wall Street is going to Florida…it will take a few years…
I wonder if Fox News will move south…
I’d think the MSM would be a ways still from bailing on NYC, but a branch studio? Sure.
As your “benevolent dictator” (LOL) I’d move “Wall Street” and all “Wall Street” home offices of all major brokerage companies and all home offices of all major U.S. banks, out of NYC and out of New Yprk State, ending the “empire” in the Empire State. I would not move the all to the same state either. That would also precipitate the end to the oversize role the Federal Reserve Bank of New York has in the Federal Reserve system.
Wall Street owned the democrat party for years a snowball in hell would have a better chance.
If they can.
“........Take a look at the movie “Margin Call” sometime. That’s a perfect example of how senior management is in the dark about its own operations.....”
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Margin Call is in my top 5 of favorite movies.
It is amazing to me that extremely smart people can't see what is right under their noses (but that is very common).
I don’t think Florida will ever come close to capturing a sizable piece of Wall Street. My rationale is probably odd: I have never seen Florida as a serious place to do business. Take a look at the Fortune 500 companies headquartered there, and notice how few names you even recognize. They seem to be heavily concentrated in the grocery and leisure/entertainment sectors. CSX Transportation — one of a half-dozen Class I railroads in North America — is the only one I can think of that has a critical presence that has impacts across multiple industries on a regional or national level.
Dickie Dunn said it best...
"I think there are a lot of shysters in Florida."
wall st is no longer the market of commodities selling on the block. it's traders making digital trades, many of which do not involve humans. as such, there is absolutely no requirement to be in any particular location, especially NYC. it makes much more sense to move trading operations to the most tax friendly locations possible... which may include other countries.
as for florida... there are FAR more retail outlets in florida compared to any other state i've been through.
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