Former Obama administration OMB Director Peter Orszag, the CEO of Lazard, sounded an alarm Thursday morning over the leftward direction of the Democratic Party, especially when it comes to its handling of antisemitism.  

He spoke out on CNBC after far-left state Assemblyman Zohran Mamdani won the Democratic nomination for New York City mayor. 

“I’m saddened to say the Democratic Party is becoming increasingly antisemitic and anti-capitalism… Turning away from your principles and towards antisemitism never works,” Orszag said on CNBC’s “Money Movers” this afternoon.

He went on: “The Democratic candidate for mayor has embraced the global intifada idea. The DCCC has distributed fundraising emails from a senior Democratic operative [James Carville] saying Jewish donors [are] only interested in tax cuts. The senior leadership in the party seems to have cognitive dissonance on Israel. It’s problematic.”

Orszag has been a major figure in the Democratic Party for years, most prominently serving in the Obama administration as director of the Office of Management and Budget. 

As antisemitism increases, he said that he had expressed these concerns to Democratic leadership, including House Minority Leader Hakeem Jeffries (D-NY) and Senate Minority Leader Chuck Schumer (D-NY), who has faced his own challenges navigating the ideologically divisive New York City mayoral race.

“I think the New York mayoral race is only part of the broader question. I think the Democratic Party needs to decide what it stands for,” Orszag said. “It needs to decide what its moral principles are and that includes [regarding] antisemitism.”

When asked about how Lazard would respond to a Mamdani mayorship, he said the bar for the company leaving was “very high” and would depend on what policies are implemented.