‘All the Big Banks’ On Wall Street Are Backing Biden Against Trump

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Biden Wall Street

Joe Biden is raking in Wall Street cash from all the big banks at five times the rate of President Trump, according to a CNN report.

An analysis by CNN found that “all the big banks are backing Biden” against Trump, with Biden taking a larger margin of Wall Street donations than even Hillary Clinton did in 2016.

CNN reports: The securities and investment industry donated just $10.5 million to Trump’s presidential campaign and outside groups aligned with it, according to a new tally by OpenSecrets. It has sent nearly five times as much cash, $51.1 million, to Democratic presidential nominee Joe Biden.

That means Trump is losing the fundraising race among Wall Streeters by a slightly greater magnitude than in 2016. During that cycle, former New York Senator Hillary Clinton and groups aligned with her raised $88 million from the securities and investment industry, while Trump took in just $20.8 million.

But a CNN Business analysis of OpenSecrets research shows that Biden is beating Trump in fundraising from all of America’s big banks — in some cases by wide margins.

According to Breitbart: JPMorgan Chase employees have given three times as much campaign cash to Biden as Trump. Biden has taken nearly $380,000. At Morgan Stanley, Biden has taken more than twice as much as Trump, taking nearly $258,000 from the bank’s employees compared to Trump’s $96,010.

Despite pitching himself as a defender of blue-collar Americans, Biden has not only been widely backed by Wall Street but also by wealthy residents on Park Avenue.

Biden’s campaign has raised over $1 million from donors living on Park Avenue, according to Federal Election Commission (FEC) filings, as Breitbart News reported. This is more than eight times the $127,000 raised by the Trump campaign from the same area.

This month, Biden touted Wall Street’s support for his plan to abolish America’s suburbs by seizing control of local zoning laws to construct housing developments and multi-family buildings in neighborhoods. Likewise, Wall Street is behind Biden’s plan to hugely expand legal immigration levels, beyond already historical highs at 1.2 million green cards and 1.4 million visa workers a year.

Biden has elated Wall Street so much that for the first time in a decade, more financial executives are donating to Democrat candidates than Republicans, the latest Center for Responsive Politics analysis reveals.

Niamh Harris
About Niamh Harris 15099 Articles
I am an alternative health practitioner interested in helping others reach their maximum potential.