Friday, September 27, 2019

Billionaires Think They Own The Democratic Party-- And If They Can't Have Biden Or Mayo Pete, They're Taking Their Toys And Going Home-- GOOD... Don't Come Back!

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The latest polls have shown Elizabeth Warren edging ahead of the corrupt Wall Street candidate, Status Quo Joe. Although many of the worst establishment Democrats would bee willing to take her as long as it means not Bernie, some are as unhappy about her-- an inconvenience and a significant threat-- as they are about Bernie-- an actual existential threat to billionaire control of the country. Yesterday, Brian Schwartz, reporting for CNBC, reported that the worst of the worst Wall Street Dems are admitting they'll back Trump to keep Warren out of the White House. They want Biden or Mayo Pete... or Trump. Democratic primary voters should ask themselves why. Schwartz wrote that "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." Does that make your blood boil? Does it make you realize why Bernie's plan for billiionaire extinction is so necessary?
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.

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.

Warren has sworn off taking part in big money fundraisers for the 2020 presidential primary. She has also promised to not take donations from special interest groups. She finished raising at least $19 million in the second quarter mainly through small-dollar donors. The third quarter ends Monday.

Trump, has been raising hundreds of millions of dollars, putting any eventual 2020 rival in a bind as about 20 Democrats vie for their party’s nomination.

Trump’s campaign and the Republican National Committee have raised over $100 million in the second quarter. A large portion of that haul came from wealthy donors who gave to their joint fundraising committee, Trump Victory. In August, the RNC raised just over $23 million and has $53 million on hand.

The Democratic National Committee have struggled to keep up. The DNC finished August bringing in $7.9 million and has $7.2 million in debt.

Biden, who has courted and garnered the support of various wealthy donors, has started to lag in some polls. The latest Quinnipiac poll has Warren virtually tied with the former vice president. Biden was one of three contenders that saw an influx of contributions from those on Wall Street in the second quarter.

A spokeswoman for the senator from Massachusetts declined to comment.

The business community’s unease about Warren’s candidacy has surged in tandem with her campaign’s momentum. CNBC’s Jim Cramer said earlier this month that he’s heard from Wall Street executives that they believe Warren has “got to be stopped.” Warren later tweeted her response to Cramer’s report: “I’m Elizabeth Warren and I approve this message.”



Some big bank executives and hedge fund managers have been stunned by Warren’s ascent, and they are primed to resist her.

“They will not support her. It would be like shutting down their industry,” an executive at one of the nation’s largest banks told CNBC, also speaking on condition of anonymity. This person said Warren’s policies could be worse for Wall Street than those of President Barack Obama, who signed the Dodd-Frank bank regulation bill in the wake of the 2008 financial meltdown.

Yet before Obama was elected, his campaign took over $1 million from employees at Goldman Sachs, according to the nonpartisan Center for Responsive Politics.

A hedge fund executive pointed to Trump’s tax cut as a reason why his colleagues would not contribute or vote for Warren if she wins the nomination.

“I think if she can show that the tax code of 2017 was basically nonsense and only helped corporations, Wall Street would not like the public thinking about that,” this executive said, also insisting on anonymity.


Should these people be part of the Democratic Party at all, let alone have the kind of immense influence over it that Bill Clinton, Barack Obama, Pelosi, Schumer, Hoyer, Emanuel and Wasserman Schultz made sure they would have? That's why I'm still backing Bernie through the primary. If Elizabeth Warren wins, I'll have not the slightest hesitation supporting her in every way I can-- and with great enthusiasm. Bernie grew up in my 'hood in Brooklyn and went to PS 197 and James Madison High School, like I did, and I know what he thinks of billionaires and what his intentions towards that kind of wealth will be.

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6 Comments:

At 7:06 PM, Blogger TrumanTown said...

Howie I Usually Agree With You But Not On Warren. She Is Obama HOPEY CHANGEY! She Has Her Half Ass Plans Of Incrementalism That She Got From Bernie! If She Is The Nominee She Will Lose To Trump. She Always Cowers To Power. For Example When She Was Interrogating The Dude From Wells Fargo On Making The Underlings To Put Up False Accounts Of Their Customers She Said And I Quote " You Should Be Fired"! What She Will Never Say To Them Is "You Should Be Prosecuted"!

 
At 7:14 PM, Anonymous Anonymous said...

I believe that Elizabeth Warren would make a good Vice-President. She can't be as much of a bought pol that way.

But I would rather see her stay in the Senate where she could actually accomplish some good by reining in Wall Street excesses.

I no longer think her ego will allow her to see where her knowledge could be put to deliver real benefit to the nation, though. She listens too much to bad advice from her consultants. We saw what happened to Jimmy Carter when he did the same thing. Do we have to go through that again?

 
At 8:35 PM, Anonymous Anonymous said...

@7:06 pm

TMC; DR (too many caps; didn't read)

@7:14 pm

Can we declare a moratorium on dismissing politicians on the basis of "ego"? Because it's kinda dumb. You don't run for a job like President because you're so fucking humble. Ideally, you run because you're big-headed enough to think you can make a difference. Admittedly, in the case of assholes like Hillary Clinton or Obama, they ran for seemingly NO REASON other than the sense that they deserved to be president. Warren does seem to have an actual belief system that tilts her toward the idea of making government work on behalf of ordinary people. While I know many Sanders supporters feel she should just drop out and it's somehow egotistical of her not to do so, they should understand that she's running for President because she thinks HER ideas for programs and plans are the best way to go. In other words: she's not an egomaniac simply because she doesn't share YOUR belief that Bernie will be the better candidate. If it turns out "socialism" is a harder sell in Middle America than anyone has so far considered and Bernie loses in 2020, will that mean him and his supporters were egomaniacs who should have stepped aside for someone else? If you're a Bernie supporter, be a Bernie supporter. But don't be a yutz who insists that everyone else in the Democratic field should step aside for your guy. It's silly and, weirdly, a bit reminiscent of the noises made by Hillary supporters last time we were on this merry-go-round.

 
At 8:51 PM, Anonymous ap215 said...

https://www.youtube.com/watch?v=MdO2m9jtI8w

 
At 10:08 PM, Anonymous Anonymous said...

I'll take your comments under advisement, 8:35. But I don't see you sticking to advocating for your choice as you expect me and others here to do. Walk your talk.

 
At 8:12 AM, Anonymous Anonymous said...

What have I been sayin' forever? The money loathes Bernie and Elizabeth and will do their all to keep them from sniffing the democrap nom.

the money runs the DNC.

need I say more ever again?

So... why you inevitably gonna beg us to choke down the shit taco and vote for the democrap that won't be Bernie or Elizabeth?

I guess you didn't really mean "good... don't come back!"... eh?

I would note that Bernie has been talking progressive for 40 years. But he hasn't managed to actually DO much of anything except apologize for the democraps' inability to overcome republican obstruction when things like GLBA and CFMA pass and so on.
At least Elizabeth gave us the CFPB... for a while. It's been neutered by being unmanned and unfunded... but at least it exists in theory.
Her theories about reining in wall street won't work. History shows that rules and regulations are always ignored when the money captures government. Dodd and Frank both took million in donations to look the other way during the inflation of the bubble that blew up in 2008.
TBTFs **MUST** be broken up, as they were in 1932-1936. Nothing short of this can work, even for a short time. Bernie is correct.

But Bernie and Elizabeth are not running for president as independent thinkers. They are running as democraps. They will be forced by the party, Pelosi and scummer to only do what those two and their money masters want. And both will happily do so -- FOR THE GOOD OF THE PARTY, which both will rationalize as the GREATER good.

If you want another few years of slower nazification, like obamanation, those are your best choices. But following will be another quantum leap rightward, worse than trump. And if it's biden, it will be hardly slower at all -- like Clinton who never slowed the neoliberal march to fascism at all.

If you want actual improvement... you must find a different way.

 

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