The big banks on Wall Street will end up spending about $74 million trying to get Joe Biden, the Democratic Party’s candidate for president, to win the election on Nov. 3, Breitbart reported.
According to a financial report from the Center for Responsive Politics, Biden would end his campaign receiving about $74 million from major Wall Street banks, a stark contrast to the $18 million President Trump received from executives and employees of the world’s financial center.
According to a CNBC report, former Goldman Sachs Chairman Harvey Schwartz donated $100,000 this month to Biden’s action fund. The final figures from both campaigns also contrast sharply: Biden received $330 million in donations while Trump received only $110 million.
Similarly, Hillary Clinton was also a favorite in the 2016 election for large corporations and received much more than Biden.
Perhaps the reasons the establishment supports Biden are his globalist policies, which generate more money for large corporations that are expanding to control the entire market, while President Trump has taken concrete steps to break with that model and chooses to emphasize domestic industry.
From modifying H-1B visa programs to prevent companies from hiring cheap foreign labor, tariffs imposed on the Chinese Communist Party (CCP) to discourage imports that compete unfairly with U.S. industry, incentivizing companies with tax breaks if they bring their manufacturing back home, eliminating the NAFTA and Paris treaties that hurt the economy, are but a few examples of the things President Trump promised Americans and was chosen to do.
The Justice Department sued Goldman Sachs in October for bribing foreign officials in Malaysia for improper gain. The bank agreed to pay a $2.9 billion fine for the charges. While there is no direct link to President Trump’s candidacy for these charges, the fact that the case proceeded does indicate the administration’s willingness to punish these large corporations.
During the last debate, President Trump accused Biden of being the one who takes all of Wall Street’s money by publicly profiling himself as an incorruptible president who defends the interests of the people regardless of big corporate money.
“You are the one who takes all the money from Wall Street. I don’t take it,” the president said. “You have raised a lot of money, tremendous amounts of money, and every time you raise money, deals are made, Joe. I could raise so much more money as president and as somebody who knows most of those people, I could call the heads of Wall Street, the heads of every company in America, I would blow away every record.”
“But I don’t want to do that because it puts me in a bad position …” the president said. “You should not bring up Wall Street because you’re the one that takes money from Wall Street, not me. I could blow away your records like you wouldn’t believe. We don’t need money. We have plenty of money. In fact, we beat Hillary Clinton with a tiny fraction of the money that she was able to raise.”