CNBC Confirms Wall Street’s Preference for Biden

Oct. 17, 2020 (EIRNS)—CNBC on Oct. 16 published an article confirming what President Donald Trump has claimed about Joe Biden’s big contributors: “Joe Biden’s joint fundraising committees benefitted from a wave of big money contributions from finance leaders on Wall Street and across the country during the third quarter.” All the media are reporting the huge fundraising lead Biden and other regional Democrats have over the Republicans, but most claim it is from the “grass roots.” Here’s what CNBC’s Brian Schwartz reports:

“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.” He names a few: Tim Geithner, Obama’s Treasury Secretary who now heads Warburg Pincus: $150,000. Antonio Gracias, founder of Valor Equity Partners, and partner Jonathan Shulkin: $300,000 each. John Doerr, chairman of venture capital firm Kleiner Perkins: $355,000. Stephen Mandel, founder of hedge fund Lone Pine Capital: $310,000. Pete Muller, founder of investment manager PDT Partners: $360,000. Jonathan Soros, an investor and son of billionaire George Soros: $145,000. These are not necessarily their only contributions.

Schwartz adds: “Biden Action also saw large contributions from leaders at Blackstone, JPMorgan Chase, The Carlyle Group and Kohlberg Kravis & Roberts, among other firms. The Biden Action Fund raised more than $4 million from those in the finance industry in the third quarter of 2020.”