After expressing their deep fears over the prospect of Sens. Bernie Sanders or Elizabeth Warren winning the 2020 Democratic presidential nomination, Wall Street executives are opening their checkbooks to signal their favorite candidates as the primary race heats up.
“Some politicians go to wealthy people’s homes and they sit around in a fancy living room, and people contribute thousands and thousands of dollars and they walk out with a few hundred thousand bucks. We don’t do that.”
—Sen. Bernie Sanders
CNBC reported Thursday that former Vice President Joe Biden, Sen. Kamala Harris (D-Calif.), and South Bend, Indiana Mayor Pete Buttigieg “combined to receive contributions during the second quarter from at least 15 bank executives from Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, and Bank of America.”
Buttigieg, who earlier this month hired a former Goldman Sachs executive as his national policy director, led all 2020 Democrats in fundraising in the second quarter of this year, raking in $24.8 million.
According to CNBC, the South Bend mayor “had some help from Wall Street in hitting that milestone.”
“Richard Zinman, an executive director at J.P. Morgan, gave Buttigieg $2,000 in late April,” CNBC reported. “James Mahoney, the head of global communications and public policy at Bank of America, gave the same amount to Buttigieg’s 2020 campaign in June.”
CNBC listed the names of other Wall Street financiers who doled out second-quarter campaign donations:
- Goldman’s chief financial officer, Stephen Scherr, gave $2,800 in May to Biden’s campaign for president;
- Ari Glazer, a managing director at Citi, and Ali Reza, a managing director at Morgan Stanley, each gave Biden $2,800 [in June], records show;
- Jennifer Scully-Lerner, a vice president at Goldman Sachs, gave Harris $1,000 in late June;
- Ray McGuire, who’s led Citi’s investment banking division for 13 years, sent $2,800 to Harris that same month;
- Richard Zinman, an executive director at J.P. Morgan, gave Buttigieg $2,000 in late April. James Mahoney, the head of global communications and public policy at Bank of America, gave the same amount to Buttigieg’s 2020 campaign in June.
Former Goldman Sachs and Citigroup executive Robert Rubin has donated a total of $8,400 to Biden, Buttigieg, and Harris, CNBC reported. Rubin served as treasury secretary for former President Bill Clinton and economic adviser to former President Barack Obama.
Sen. Cory Booker (D-N.J.) also emerged as a favorite of the financial industry, according to the Washington Post, citing data from the first two quarters.
SCROLL TO CONTINUE WITH CONTENT