. . . [continuing the headline quote]
Was anyone surprised when Republican elites started flocking to Biden-- [bad link - try this ] first in a trickle and now in a steady stream?
So why would anyone be surprised that Biden-- who has spent his entire career in politics fellating Wall Street-- would be embraced by the banksters and junior-banksters who were FDR's and the working class' sworn enemies but have been assiduously cultivated by the Bill Clinton breed of Democrats?
Over the weekend, the NY Times published a piece by Kate Kelly, Shane Goldmacher and Thomas Kaplan, The Wallets of Wall Street Are With Joe Biden, if Not the Hearts that will thrill many Democrats and chill many others. The story barely mentions Bernie-- just once when he and Elizabeth Warren were dismissed-- but Bernie, fear of Bernie to be precise, was the impetus for Biden's rise among the financial elites. This story though is about how Trump is pushing Wall Street into the Biden camp. After donating millions to Biden to beat Bernie, that money "helped him build a strong lead in national polls." But with the threat of Bernie off the table, what would Wall Street do next?
"Wall Street," wrote the Times trio, "has fared extraordinarily well under Mr. Trump: deep cuts to taxes, slashed regulations and, until the pandemic hit, record stock prices. But in recent months, dozens of bankers, traders and investors said in interviews, a sense of outrage and exhaustion over Mr. Trump’s chaotic style of governance-- accelerated by his poor coronavirus response-- had markedly shifted the economic and political calculus in their industry. [...]
From DownWithTyranny, this link. Headlined there:
A Gamble That Paid Off: When Bernie Was Riding High, Wall St. Saw A Distressed Asset In Biden-- And Bought Low
A continuation -
In May and June alone, the Biden Action Fund raised more than $11.5 million. That tally-- a good measuring stick for Wall Street support because it was set up in part to draw contributions from that industry-- included $710,000 from Josh Bekenstein, a co-chair of Bain Capital, and his wife.
But Wall Street money has proved to be a double-edged sword for Democrats, as Hillary Clinton discovered when she was hounded four years ago for delivering private speeches to Goldman Sachs and other firms. Progressive voters and activists-- many of whom backed Mr. Biden’s more liberal rivals in the primary-- are particularly leery of any appearance of coziness with the finance industry.
Leery... imagine that! Why would progressives be leery of the working class' historical enemies? Everything that is wrong with the world... follow the money. Our Times trio wrote that when asked about Wall Street’s role in Biden’s current bid, the campaign spits out all the Biden bullshit about how he fights for the common man, which is quite at odds with his repulsive record of fighting against the common man. Our trio hates Trump so they refrain from noting that although they reluctantly admit that "As a senator from Delaware, Mr. Biden has for decades had relationships with credit-card companies there, but less of a presence in the financial power center of New York. He has counted a small circle of finance executives as supporters. Marc Lasry, the co-founder of Avenue Capital, for example, held a fund-raiser for Mr. Biden during his first run for president in 1988, and continues to back him now. The former hedge-fund executive Eric Mindich and the short-seller James Chanos have been supporters from well before the pandemic began. It doesn’t hurt that Mr. Biden has also not crusaded against Wall Street, the way his primary rivals Elizabeth Warren and Bernie Sanders did. Financial executives mostly seem to believe that while their taxes would rise in a Biden administration, they would not be subjected to the kind of 'fat cat' rhetoric that soured some of their relationships with former President Barack Obama." Feel better now? How about this then? "'Rich people are just as patriotic as poor people,' Mr. Biden told donors at a fund-raiser at the Carlyle Hotel in Manhattan last year. At a Brookings Institution gathering in 2018, he said, 'I don’t think 500 billionaires are the reason why we’re in trouble.'" Biden is wrong; they are.
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The giving has been so robust that the Biden campaign is now asking for at least $1 million in donations before it will confirm the former vice president’s attendance at an event, say bundlers.
As the checks roll in, the Biden campaign has been carefully cultivating its relationship with the business community, with a focus on Wall Street. The outreach has included offering private briefings ahead of major policy rollouts and dangling various donor packages for the upcoming, and mostly virtual, Democratic National Convention.
The visuals are great, and the current DWT set of posts - beyond the one quoted - are worth a look before they scroll off-screen. Also, the post from which the quote was drawn continues apace, discussing Reagan years, and contrasting US with our European counterparts. Link:
https://downwithtyranny.blogspot.com/