Market Overview

Cuomo Wins NY Governor Race

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New York Attorney General Andrew Cuoma (D) has defeated Republican challenger Carl Paladino to become the Empire State's next governor.

Paladino was a political novice while Cuomo, whose father Mario was a three-term governor in New York, appears to have been groomed for this role.

Cuomo, like former New York attorney general turned governor Elliott Spitzer, cut his teeth making life miserable for financial services firms, probably New York's most important industry.

Cuomo ran for the Democratic nomination for governor in 2002 and was defeated. He and his father become the first father-son tandem in New York history to both hold the state's highest elected office.

 

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