WALL STREET Dem donors: "We'll sit out or back Trump if you nominate WARREN."

[Kid Berwyn]

That’s all right with me.
Wall Street screws 99% of the country.
For all they can.
All day.
Every day.

Wall Street Democratic donors warn the party: We’ll sit out, or back Trump, if you nominate Elizabeth Warren

Sept. 26, 2019, CNBC.com

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 interviews of several big-money Democratic donors and fundraisers in the business community, CNBC has found that this opinion is becoming widely shared as Warren surges against Joe Biden.

Warren is a critic of big banks and corporations, and has called for a wealth tax.

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.

Continues...

https://www.cnbc.com/2019/09/26/wall-street-democratic-donors-may-back-trump-if-warren-is-nominated.html

The 99% deserve a break ASAFP.

[PoindexterOglethorpe]

1. Really? They can go fuck themselves.

Wall Street Democratic donors don't own the party. Don't get to dictate who the nominee will be.

[InAbLuEsTaTe]

8. Seriously... all the more reason to support Elizabeth!!

Bernie & Elizabeth 2020!! or
Elizabeth & Bernie 2020!!
Either way, welcome to the revolution!!!

[Kid Berwyn]

17. They want ROI

They want to invest in campaigns to have a measure of control.

Money really has corrupted our democracy.

[NoMoreRepugs]

2. I call BULLSHIT. Some may hold back on donations to

Warren as our candidate but others will step up IMO.

[Kid Berwyn]

19. That is my hope, under the present circumstances.

Democratic individuals, IMO, will be the ones who step up and pony up. Otherwise, the billionaires will flood the millionaires with all the cash they need to buy all the TV, radio and new media they want.

[dchill]

3. I, for one, don't trust CNBC.

[Kid Berwyn]

20. Dems' Wall Street wing hates Elizabeth Warren. They hated the New Deal too

By MICHAEL HILTZIK
BUSINESS COLUMNIST
Los Angeles Times, SEP. 27, 2019

The least surprising political news in this newsy week may be that the Democrats’ Wall Street donors are so fearful of Elizabeth Warren’s surge to the presidential nomination that they’re threatening to back Donald Trump for reelection.

After all, it’s hardly a shock that the wealthy will go to the mat to protect their fortunes, which Warren has placed squarely in the crosshairs through her advocacy of progressive economic policies, especially a wealth tax.

But the outburst of fear and loathing reported this week by CNBC should remind us that the Democratic Party’s plutocrat wing dates back decades and has always presented a powerful counterweight to its liberal impulses.

Most notably, the Democrats’ wealthiest supporters were so opposed to the New Deal that they almost ripped the party apart to kill it.

Although they comprised such elite figures as steel and auto executives, heirs to Astor and Du Pont fortunes and Wall Street figures such as James Paul Warburg, they were not above making common cause with the party’s Southern racists to attack Franklin Roosevelt’s policies, which they condemned as “socialism.” (Sound familiar?)

Continues...

https://www.latimes.com/business/story/2019-09-27/hiltzik-wall-street-democrats-hate-warren?_amp=true

Without naming it, the columnist above refers to the Wall Street Coup that made the mistake of choosing a loyal Maj. Gen. Smedley Butler (USMC, ret.) as its figurehead.

https://bigthink.com/politics-current-affairs/fdr-coup

[DemocracyMouse]

4. Well, now we know. And now we double the door to door for Warren.

Didn't Warren Buffett sound the alarm a couple years ago that if we don't make deep structural changes to the system its all going to hell in a hand basket? Elizabeth is addressing the rigged system so we don't ride that hand basket. You'd think Buffett and his friends would appreciate another new deal. It raises all boats — and prevents a fascist state.

Or are some billionaires that clueless?

[InAbLuEsTaTe]

9. +1

Bernie & Elizabeth 2020!! or
Elizabeth & Bernie 2020!!
Either way, welcome to the revolution!!!

[Kid Berwyn]

23. Billionaire Warren Buffett says 'the real problem' ...

...with the US economy is people like him

Catherine Clifford
CNBC, June 27, 2017

Warren Buffett says people like him are the problem with the U.S. economy.

With a net worth of more than $75 billion, Buffett is currently the second richest man alive, according to Forbes. As the CEO of investing house Berkshire Hathaway, he is hallowed as the Oracle of Omaha. But for all his personal success, Buffett says the issue really is the 1 percent.

“The real problem, in my view, is — this has been — the prosperity has been unbelievable for the extremely rich people,” says Buffett on PBS Newshour.

“If you go to 1982, when Forbes put on their first 400 list, those people had [a total of] $93 billion. They now have $2.4 trillion, [a multiple of] 25 for one,” he says. “This has been a prosperity that’s been disproportionately rewarding to the people on top.”

Continues...

https://www.cnbc.com/2017/06/27/warren-buffett-says-the-problem-with-the-economy-is-people-like-him.html

Buffett understands.

[RockRaven]

5. In other words "we prefer treason and traitors owned by foreign dictators to Senator Warren"

It shows you how much Wall Street is oriented towards extraction of wealth from the rest of us *no matter what happens* that they can be blase about having the government totally owned by hostile foreign powers.

As long as they can skim their share off the top, regardless of whether there is a feast or famine happening, they're indifferent to whatever happens to everyone else.

[Martin Eden]

10. +1

Greed trumps all.

[calimary]

11. That's some good messaging.

And yes. Seems that IS what they prefer.

The selfish and greedy threaten to take their ball and go home.

Pass it on. EVERYWHERE.

[blm]

15. No, it's they prefer treason over paying fairer tax rates

[Kid Berwyn]

25. Some on Wall Street blame the Fed for inequality.

Rabid Inequality? Some On Wall Street Increasingly Blaming The Fed

Kenneth Rapoza
Forbes, July 18, 2019

Excerpt...

Has inequality got ya down? Some on Wall Street are laying the blame on nearly a decade of easy-money policies from the world’s leading central banks, namely the Federal Reserve and the European Central Bank, where the benchmark interest rate is literally zero.

Snip...

With interest rates near their lower band, a key transmission channel of unconventional monetary policies—quantitative easing, yield curve control and forward guidance—has been to entice investors to take greater risk and hunt for yield outside of the traditional investment-grade bond market. This has inflated stock valuations, made junk bond yield look like investment-grade, and increased housing prices in major cities where real estate is a prized possession. All of this has exacerbated wealth inequality and is contributing to the social backlash against economic liberalism, says Rob Subbaraman, an economist with Nomura Securities in Singapore.

“Another aspect of inequality is uneven distributional impacts, with very low interest rates disproportionately hitting (retirees) who have much of their savings in low-interest bank saving deposits and young people seeking to save for their first home,” he says.

Quantitative easing has made bond traders very wealthy. The Fed or the European Central Bank (ECB) were their buyers of last resort. It was a winning trade. But the riff-raff downstream who rely on conservative investments to protect them in their retirement years are getting no bang for their buck.

Continues...

https://www.forbes.com/sites/kenrapoza/2019/07/18/rabid-inequality-some-on-wall-street-increasingly-blaming-the-fed/#307f55fc3457

Wall Street looted the banks in 2008. The US taxpayer made them whole, like they did when Wall Street looted the S&Ls in the late 80s. Elizabeth Warren has made clear how to change this tradition.

[dweller]

6. f'n snowflakes !

✌🏼

[Kid Berwyn]

29. Reinstate Glass-Steagall and they'd go catatonic.

So...

Help Elizabeth Warren reform Wall Street with a 21st century Glass-Steagall Act

https://act.credoaction.com/sign/warren_glass_steagall

[Beartracks]

7. "she's going to hurt me, so I'm going to help Trump"???

Fair weather Democrats much?

"You know all those liberal values and priorities I'm in favor of? Yeah, well, if I can only make $75 million this year instead of $90 million, I'm not interested."

Fuckers.

=======

[calimary]

12. ... so I'm going to support the guy who'll hurt YOU."

[William Seger]

14. That's it exactly

If they fret about not getting richer faster and think Trump will only hurt other people, then they're really classic Republicans anyway, hedging their bets by contributing to Democrats in case they win. Fuck 'em.

[blm]

16. That's it, EXACTLY!

There’s an editorial cartoon waiting to happen.

[progressoid]

13. Biden Bros.

[Kid Berwyn]

30. "Grab all you can, anytime you can."

Traditional American saying

[betsuni]

18. Bullshit. Fiction.

[Kid Berwyn]

21. Great News: Wall Street Democrats Might Leave the Party

My fervent hope for many years could be coming true.

BY DAVID DAYEN
The American Prospect, SEPTEMBER 27, 2019

For months now, CNBC has been offering a window into the Wall Street primary, befitting its role as a conduit for the financial industry to dictate demands on politics and society. CNBC’s Brian Schwartz, the network’s “politics and finance reporter,” has controlled this beat, diligently chronicling the desires of giant donors and their preferences in the Democratic primary. He’s laid out which candidates are getting the big contributions, precisely where in the Hamptons fundraisers are being held, which donors are shifting allegiances, and what advice those rich people are giving the candidates, sometimes directly.

It’s a fascinating and perfectly revolting way to cover modern politics: Just call up the richest hedge fund managers and bankers you can find and run the entire coverage through them. It’s probably as accurate as any other method of understanding how power works in America today.

But Schwartz’s latest article, really a warning from Wall Street’s highest and mightiest, actually offers a way out of this despairing doom loop of political economy. In it, Schwartz relays the message of “several high-dollar Democratic donors and fundraisers in the business community,” who vow to sit out the general election, or even back Donald Trump, if Elizabeth Warren wins the nomination. Bernie Sanders isn’t mentioned in the article probably because everyone already knows that these types of donors would have precisely the same reaction.

This is fantastic news. Anything that accelerates the split in the decades-long marriage between the alleged party of the people and Big Money should be celebrated. The transformation in policy that would ensue if Wall Street Democrats walk away from the party, freeing it from self-censorship and bad ideas, far outstrips whatever money they might raise for Democratic candidates.

Continues...

https://prospect.org/power/great-news-wall-street-democrats-might-leave-the-party/

[betsuni]

24. I say it's spinach and I say the hell with it.

Demexit nonsense.

[comradebillyboy]

22. If she wins the nomination the Wall Street folks will hedge their bets

and she will get plenty of contributions.

[Kid Berwyn]

31. How Elizabeth Warren would reform Wall Street

By QUINT FORGEY
Politico, 07/18/2019

Snip...

What would the plan do?

Warren’s plan calls to “transform the private equity industry” by making private equity firms responsible for the debts of companies they purchase, as well as requiring them to honor some worker pension obligations. Other Warren proposals aimed at ending “legalized looting” by private equity firms include changes to tax and bankruptcy rules to eliminate “sweetheart tax rates” and help ensure that employees receive pay and benefits when their companies go broke.

To curb Wall Street speculation, Warren’s plan calls for enacting her proposed “21st Century Glass-Steagall Act,” which she claims “rebuilds the wall between commercial banks and investment banks.” The plan also calls for imposing “tough new executive compensation rules” that would revoke bankers’ incentives for failed risky investments, and reversing deregulation of various rules for big banks carried out by the Trump administration.

Warren seeks to better connect “savers with borrowers” in the financial sector by advocating for “postal banking,” whereby the U.S. Postal Service would “partner with local community banks and credit unions to provide access to low-cost, basic banking services.” Warren’s plan calls for appointing governors to the Federal Reserve Board who will adopt “real-time payment technology” for “everyday transfers,” so Americans can more easily retrieve their paychecks. The plan also pushes Warren’s proposed “Accountable Capitalism Act,” which would require corporations “to focus on the long-term interests of all of their stakeholders — including workers — rather than on the short-term financial interests of Wall Street investors.”

Continues...

https://www.politico.com/story/2019/07/18/elizabeth-warren-wall-street-2020-1421826

Unless Uncle Sam levels the playing field sooner, rather than later, there won’t be any saps left for the casino to pick clean.

[NurseJackie]

32. You are correct. This is just bluster.

[Duppers]

26. Just seems "Wall Street Democrat" is a contradiction.

Anyone else see a conflict in terms there?

[onecaliberal]

27. There was no need to nakedly show their hand. We already knew.

This is exactly what we need to demolish. More reason to support Warren.

[Illegal]

28. So...what's different?

and i'll bet ya these are the donors who loved HRC

iykwim.

You have to admit...if she's pissing these guys off, she's doing something right, ... after all, we bailed their ungratefull spoiled millionaire asses out!

don't forget.

[Gothmog]

33. The Wall Streeters who actually like Elizabeth Warren

Link to tweet

But not everyone on Wall Street hates her. In fact, there are plenty of people who believe the idea of Warren in the White House sounds pretty good. And it’s not a grudging acceptance of her worldview but instead genuine support for it.

Some in the industry believe that the excesses of the financial system continue to be a problem in the wake of the Great Recession and that corporate concentration, wealth inequality, and lax regulation are still issues that need addressing. Do they think she’s 100 percent right on everything? No. But they know she’s smart, and they think she’s approaching policy with a scalpel, not a sledgehammer. They believe Warren when she says she is a capitalist and are on board with her brand of capitalism.

“A place like mine chooses winners economically,” said a Goldman Sachs vice president. “Is that right? It doesn’t seem like that is right.”

I spoke with more than three dozen people from across the financial sector — professionals who work at hedge funds, big banks, and private equity funds, in asset management, financial advice, investment banking, trading, research, and compliance — who support Warren’s presidential bid. They know if she lands in the White House that may make their jobs a bit different, their companies a little less lucrative, or mean they’ll pay more in taxes. And they think that’s great. They support Warren because of her policies, not in spite of them.

[Kid Berwyn]

34. That'd be great!

And if Joe goes on to be the one who spends it, that’d be great, too!