Wall Street’s wealthy donors didn’t see the Donald Trump’s populist wave coming — and they’re “terrified,” according to Politico.
“I don’t know anyone who is a Donald Trump supporter [and] I don’t know anyone who knows anyone who is a Donald Trump supporter,” said the CEO of one large Wall Street firm.
“They are like this huge mystery group… So it’s a combination of shock and bewilderment. No one really knows why this is happening… Right now people think Trump is pretty hilarious but the longer it goes on the more frightening it gets,” the CEO said.
That’s very different from 2012, when Wall Streeters knew they could ignore the “Occupy Movement.” That group was under the back-room control of senior Democrats who would redirect the movement in exchange for campaign donations. After the 2012 election cycle, the occupy movement quietly faded away.
But the high-IQ CEOs, who skillfully earn billions of dollars by carefully tracking slight and fleeting shifts in economic data, have missed the myriad polls — and the obvious social and cultural signals — that show rising public disgust towards the corruption in D.C., the pain from a stalled economy and and the deep public resentment over the immigration-aided shift of wealth from employees to Wall Street.
The Wall Streeters’ cultural and political parochialism was spotlighted by Kathryn Wylde, president and CEO of the New York City Partnership, a non-profit that works with many business leaders. “A lot of these people thought Jeb Bush was a shoo-in and they are upset now because they have already thrown in with him and he is looking a little wilted,” she said.