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Manhattan DA Alvin Bragg has become a big problem for Gov. Hochul

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Gov. Kathy Hochul looked like she had the state’s fat-cat ­donor club so in her pocket that she could easily glide above a couple of Democratic primary opponents — and whomever the GOP throws at her in the 2022 governor’s race. 

Then came Alvin Bragg

I hear that several Big Business community fund­raisers who have either given to Hochul or planned to do so are now looking to play hardball because she’s gone silent on the new Manhattan DA and his loopy get-out-of-jail card for criminals

Bragg has become the poster child for “progressive” reforms thanks to a leaked policy mandate that outlined his heinous plans to allow most criminals to go free. And as I was first to report last week, the New York business community is going nuts. The city needs business and tourism in Manhattan to flourish or it’s doomed. 

Continued high crime is the quickest way to kill the city’s economy (remember pre-Giuliani NYC?). So big biz bombarded their normally reticent lobbying group, the Partnership for New York City — and its normally restrained CEO, Kathryn Wylde — with some blistering calls for action. 

‘Misunderstood’? 

After feeling like a piñata, Wylde turned to Bragg and asked for a meeting. He politely obliged and told Wylde his policies were being “misunderstood,” without specifying what part of the memo that he wrote was taken out of context. 

If it’s hard to digest the absurdity of all of that, you’re not alone. Members of the partnership — which includes some of the biggest, most powerful players in corporate America since nearly all the big banks and real estate outfits are located here — aren’t waiting for their Jan. 21 scheduled meeting with Bragg to take action. 

New York Gov. Kathy Hochul delivers her first State of the State address in the Assembly Chamber at the state Capitol, Wednesday, Jan. 5, 2022, in Albany, N.Y.
Gov. Kathy Hochul looked like she would win over businesses, but the lack of response to Alvin Bragg’s reforms has some weary.
AP Photo/Hans Pennink, Pool

In fact, as I’ve heard from several NYC business leaders, they’ve heard enough from Bragg already and want either him out or his policies banished to some Ivy League college safe space. 

They believe Hochul as governor is best equipped to do that. There are no recall elections in New York state. Elected officials can be removed for “any misconduct, mal­administration, malfeasance or malversation in office,” after an application is submitted by “any citizen resident of such town, village, improvement … to the Appellate Division of the [state] Supreme Court.” 

There is some talk from city business leaders to do just that, but even they would concede it’s a long shot. That leaves it up to Hochul. 

She could pressure Bragg from the bully pulpit and state unequivocally that his policies would endanger every man, woman and child who walks the streets of Manhattan. 

And while she does that, Hochul could appoint a special prosecutor to bring cases that Bragg refuses to, one prominent business leader told me. 

Again, not a word from the governor on any of this, which has the donor set pretty peeved. My business-community sources say Hochul, at least for now, doesn’t want to upset the lefties, as she’s still dealing with some election-primary challenges. 

That doesn’t mean the business community is powerless to force Hochul do something about Bragg. A few told me they will soon make clear to her that New Yorkers are not as lefty as the state’s party leaders, AOC or Bragg. It’s why Eric Adams, who embraced the business community and vowed to crack down on crime, was elected mayor. 

Some of the NY business community is not pleased with Bragg’s policies.
AP

They also tell me Hochul may have to choose between their campaign contributions or tacit support of Bragg’s idiocy if she doesn’t wise up. 

Hochul’s didn’t return a telephone call or e-mail seeking comment. 

A CEO in waiting 

When Wall Street veteran Gregory Fleming went to the fledgling Rockefeller Capital Management as its CEO in 2017, the financial chattering class was shocked: This guy is Big Bank CEO material. He put together some of the biggest financial deals in recent history and saved Merrill Lynch during the financial crisis by selling it to Bank of America. He even arranged Derek Jeter’s purchase of the Miami Marlins. He could do better than that.

Since joining Rockefeller, Fleming is doing pretty well in growing assets and setting the stage to it sell it to a major bank — while setting himself up to get that bank CEO job he has long cherished, investment banking sources tell The Post.

All big firms want what Rockefeller does: Wealth management. Dispensing financial advice to rich people is a stable source of revenue.

Fleming took over as Rockefeller Capital Management CEO in 2017.
Fleming took over as Rockefeller Capital Management CEO in 2017.
WireImage

Fleming brokers have now accumulated close to $100 billion in assets from almost nil when he started. The clients are rich, so the firm would be a great fit, I am told, for Goldman Sachs if 60-year-old CEO David Solomon wanted to share some power and appoint a successor. JPM’s Jamie Dimon might be a buyer, and at 65 he could flick Fleming in as his No. 2 with a promise to run the show when he leaves.

Other names include PNC Financial Services and BlackRock, the world’s largest money-management firm since its CEO Larry Fink, 69, and Fleming, 58, are close friends.

One thing appears to be certain: Fleming’s last job won’t be running Rockefeller. Fleming had no comment.

 



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