On Thursday, President Trump called on financial elites to promote globalism at the expense of American workers and said his administration is “fighting for Main Street, not Wall Street.” Indeed, Bloomberg News also reported Thursday that, with the exception of one major campaign donor, the contributions of Wall Street plutocrats and their ilk to President Trump’s re-election have declined significantly compared to Donald Trump’s 2016 haul.
The report examines an analysis of disclosed campaign contributions exceeding $1,000 from employees and their spouses who work at major financial firms, such as banks, hedge funds, private equity firms and asset managers. Contributions were made directly to the Trump campaign, the Republican National Committee or immense political action committees supporting the president.
With the exception of Stephen Schwarzman, the president’s contributions to re-election efforts are down about 69 percent compared to the 2016 cycle, according to the report. Schwarzman, co-founder of Blackstone Group, has himself donated $3.7 million to Trump’s re-election bid. Bloomberg reports that Joe Biden raised five times more from Wall Street than President Trump.
Now-retired executive David Nolan, who worked with Trump in 2016, told Bloomberg News why he thinks money for the president has dried up from the financial sector of the economy.
“Running a business, any public-facing business or a Wall Street firm, is dangerous because the left is very touchy to anyone who disagrees with them,” Nolan said. Nolan cited the left’s reaction to Goya Foods when the company’s CEO recently praised Trump for his leadership.
“They are less likely to come out publicly because they support Trump and politics in general,” Nolan said.
During a speech Thursday at the Whirpool plant in Clyde, Ohio, the president highlighted his administration’s America First trade policies and its opposition to globalism.
“Globalization has made the financial elites who donate to politicians very wealthy, but it has left millions of our workers only poverty and heartache, and our cities and towns with empty factories and factories,” the president said, before pointing out his administration’s success in ” to reverse the threatening tide of globalism.”
“Under my administration, we are fighting for Main Street, not Wall Street. We rejected globalism and embraced patriotism,” Trump continued.
Globalists don’t want anyone to question their agenda. They would much prefer an aging president who can be bought. Maybe that’s why Wall Street is giving so much money to Joe Biden.
“Under my administration, we are fighting for Main Street, not Wall Street. We rejected globalism and embraced patriotism.” — @realDonaldTrump pic.twitter.com/5xp1Ww5Nx0
— Steve Guest (@SteveGuest) August 6, 2020
