Progressives (Liberals)

Sanders is moving in the wrong direction despite being the only one with over a million individual donors and collecting the most money this quarter.

Wall Street Democratic donors warn the party: We’ll sit out, or back Trump, if you nominate Elizabeth Warren
Brian Schwartz, CNBC
SEP 26 2019

Democratic donors on Wall Street and in big business are preparing to sit out the presidential campaign fundraising cycle — or even back President Donald Trump — if Sen. Elizabeth Warren wins the party’s nomination.

In recent weeks, CNBC spoke to several high-dollar Democratic donors and fundraisers in the business community and found that this opinion was becoming widely shared as Warren, an outspoken critic of big banks and corporations, gains momentum against Joe Biden in the 2020 race.

“You’re in a box because you’re a Democrat and you’re thinking, ‘I want to help the party, but she’s going to hurt me, so I’m going to help President Trump,’” said a senior private equity executive, who spoke on condition of anonymity in fear of retribution by party leaders. The executive said this Wednesday, a day after Speaker Nancy Pelosi announced that the House would begin a formal impeachment inquiry into Trump.

A spokeswoman for Warren declined to comment. She tweeted her response to CNBC’s report later Thursday.

Elizabeth Warren

✔@ewarren

I'm fighting for an economy and a government that works for all of us, not just the wealthy and well-connected. I'm not afraid of anonymous quotes, and wealthy donors don't get to buy this process. I won't back down from fighting for the big, structural change we need. https://twitter.com/CNBC/status/1177262095819300864 …

CNBC

✔@CNBC

Wall Street Democratic donors warn the party: We'll sit out, or back Trump, if you nominate Elizabeth Warren https://cnb.cx/2m1TPR6 

42.9K

11:08 PM - Sep 26, 2019


During the campaign, Warren has put out multiple plans intended to curb the influence of Wall Street, including a wealth tax. In July, she released a proposal that would make private equity firms responsible for debts and pension obligations of companies they buy. Trump, meanwhile, has given wealthy business leaders a helping hand with a major corporate tax cut and by eliminating regulations.

Quote:

Sanders is moving in the wrong direction despite being the only one with over a million individual donors and collecting the most money this quarter.

Per recent polling, both of those things appear to be true, edgar.

Trump has pulled in more money than Sanders (or any Dem candidate) recently. But that fact doesn't tell us anything about how he's polling.

He defied such polls four years ago. Could happen again.

Last week, the Census Bureau released figures showing income inequality in the United States is at its highest recorded level in 50 years. Sen. Bernie Sanders (I-Vt.) has a plan to fix that. On Monday, Sanders debuted a proposal tackling CEO pay. His plan would impose a tax on companies with at least $100 million in annual revenue where the chief executive earns more than 50 times the wage of the median employee. “It is time to send a message to corporate America: If you do not end your greed and corruption, we will end it for you,” he said in a statement.

Good for Sanders!...

Bernie gets his money only from individuals.

Top Contributors, 2015 - 2020
Contributor Total Individuals PACs
American Postal Workers Union $15,005 $5,005 $10,000
Google Inc $10,918 $10,918 $0
Moveon.org $10,849 $849 $10,000
Service Employees Int Union $10,496 $5,496 $5,000
University of Michigan $10,373 $10,373 $0

Well it's not super pacs from the corporate interests he is fighting.

On a sad note, just in: Sanders is undergoing heart surgery.

I don't think it's much of a surprise to anyone that Wall St does not want Warren in the White House. A fundamental aspect of their dislike looks to be based not merely on her proposed policies but also her years long projects to curtail Wall St excesses and, importantly, her expertise in this area. And they know she's not a quitter and will be a formidable opponent.

one blissfully unaware of the limits of her own understanding.