Wall Street And Investment Community Pick Biden Over Trump
During last night's final Presidential Debate, President Donald Trump attacked Joe Biden for the donations that he's received from Wall Street and the overall investment community. But was this attack rooted in truth?
In an interesting turn, Wall Street, the investment, and financial communities have shunned the Republican Presidential candidate in favor of the Democratic candidate. With major donations coming in for Biden from all across the financial community.
Wall Street firms such as Blackstone, JPMorgan Chase, the Carlyle Group, and Kohlberg Kravis & Robert, have contributed to Biden. CNBC reports that people all over the financial industry have largely favored Biden, saying that they are:
"spending more than $50 million to back his (Biden's) candidacy, according to the nonpartisan Center for Responsive Politics, compared with more than $10 million for Trump."
Fox Business News reports that the employees of banks and investment firms have all donated to Biden with higher numbers than Trump. According to their reporting, employees from Goldman Sachs, JPMorgan Chase, Morgan Stanley, Goldman Sachs, Wells Fargo, and Bank of America have all collectively donated more to Biden than Trump.
Even with the massive donations coming in from Wall Street and investors, the Biden campaign still carries an average donation of just $43 per donation.
During Trump's debate attack, he pointed to the fact that Biden has out-raised his campaign, by saying:
“We don’t need money, we have plenty of money. In fact we beat Hillary Clinton with a tiny fraction of what she was able to raise.”
We know that is is factual the Wall Street and investors are backing Biden in the election, but why they're doing that is left up to interpretation at this point.