Democrat presidential candidate Joe Biden is raking in tens of millions of dollars from Wall Street, weeks away from the November 3 election against President Trump.
In the last few months, Biden’s campaign and his fundraising committees have “benefited from big money contributions from finance leaders on Wall Street and across the country,” according to a new report by CNBC.
Wall Street donors to date have spent more than $50 million to help get Biden elected, as they view his candidacy as a return to the economic status quo, which has often spelled economic decline for Main Street.
The joint committees, which raise money for the Biden campaign, the Democratic National Committee and state parties, are being fueled, at least in part, by Wall Street executives. Those committees accept six-figure contributions. [Emphasis added]
People in the financial industry have largely favored Biden, spending more than $50 million to back his candidacy, according to the nonpartisan Center for Responsive Politics, compared with more than $10 million for Trump. [Emphasis added]
Some of those Wall Street donors to Biden include President Obama’s former Treasury Department secretary Tim Geithner, who contributed $150,000 to the Biden Action Fund in August. Geithner, while in the Obama administration, coordinated to slash pensions for roughly 20,000 Delphi workers in the midst of the auto bailout for General Motors (GM).
Wall Street executives Antonio Gracias and Jonathan Shulkin each delivered $300,000 to Biden’s campaign in August, while venture capitalist John Doerr donated more than $355,000 to the Biden Action Fund in the last three months.
Likewise, Wall Street investor Jonathan Soros, the son of billionaire left-wing mega-donor George Soros, gave a little less than $145,000 to Biden in the third quarter, while Wall Street venture capitalists and investors John Doerr, Stephen Mandel, and Pete Muller gave Biden nearly $1.5 million.
In the third quarter, alone, the Biden Action Fund got more than $4 million from Wall Street donors, with huge donations from executives at the Blackstone Group, JPMorgan Chase, The Carlyle Group, and Kohlberg Kravis & Roberts.
Wall Street and nearly all of the nation’s biggest banks have lined up to support Biden and his running mate, Sen. Kamala Harris (D-CA), against Trump’s economic nationalist agenda. Goldman Sachs and Moody’s Analytics each released reports to investors indicating their backing of a “blue wave” on election day as the biggest net gain for the financial industry.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.