A new report published by CNBC
claims that deep-pocketed Democratic Party donors on Wall Street and at major corporations will either sit out 2020 election or provide financial support to President Trump rather than support Sen. Elizabeth Warren (D-MA) if she secures her party’s presidential nomination.
The CNBC report
claimed that “several high-dollar Democratic donors and fundraisers in the business community” were interviewed, although none agreed to be quoted by name. The sources for the article expressed concern about Warren’s rise in recent polls, noting that much of her popularity is based on her continual criticism of the financial services industry and the nation’s largest companies.
“You’re in a box because you’re a Democrat and you’re thinking, ‘I want to help the party, but she’s going to hurt me, so I’m going to help President Trump,’” said an anonymous source identified only as a “senior private equity executive.”
“They will not support her,” said an anonymous bank executive. “It would be like shutting down their industry.”
In August, the Republican National Committee raised just over $23 million and had $53 million on hand, while Democratic National Committee raised $7.9 million but had $7.2 million in debt. Warren has repeatedly insisted she will not take cash donations from major corporations and would focus on a more grassroots-level fundraising effort.
Back in February, Sen. Warren reported
that her attempt to win the 2020 Democratic Party nomination for President was “falling short” when it came to fundraising.