Republican presidential nominee Donald Trump says Democratic rival Hillary Clinton is “owned by Wall Street” and predicted she will never live up to her vows of financial market reform.
Trump went on a rapid-fire tweet storm late Thursday criticizing Hillary Clinton's speech accepting the Democratic nomination for president.
“Hillary will never reform Wall Street. She is owned by Wall Street!” he tweeted, in reaction to Clinton’s speech.
Meanwhile, Bloomberg reported a sudden and pronounced move by both parties against Wall Street at both the Republican and Democratic conventions.
"The story can be told in raw dollars: In 2012 the Republican convention and Mitt Romney’s campaign were built upon the idea that Obama and Democrats were hostile to business," Bloomberg reported.
"The financial sector poured $113 million into Romney’s campaign and affiliated super PAC, according to the Center for Responsive Politics. Four years later, again per CRP, the financial sector has thus far donated just $109,004 to Trump and only moderately more to his affiliated super-PACs," Bloomberg reported.
"Some of the missing Wall Street money has shifted to Clinton. According to CRP, Clinton and her allied super-PACs have raised about $41 million from the financial industry."
The Wall Street Journal explained that hedge funds contributed just $14 million to Democratic candidates and groups in the 2008 campaign.
Ironically, amid criticism that Clinton has cultivated close ties with the finance industry, her campaign has emphasized her plan to confront Wall Street. “Hillary Clinton has the toughest plan to reform Wall Street, clean up the abuses…and close the carried-interest [tax] loophole that benefits hedge funds,” a campaign spokesman told the WSJ.
But many on Wall Street feel that Clinton is "the safer bet."
“There are two reasons I’ve given more than ever before,” J.B. Pritzker, managing partner of private investment firm Pritzker Group, who has donated $7.9 million to Clinton-friendly groups and helped raised funds for her campaign, told the Journal. “First, I think she ought to be president. Second, I want to defeat Donald Trump. I believe that he would be terrible for the country.”
But Trump does have big-name supporters in the financial industry. Billionaire investor Wilbur Ross told the Journal that he hosted a fundraiser for Trump some weeks ago that raised “millions of dollars. much of which was from the investment community.”
Hedge-fund billionaire John Paulson recently co-hosted a fundraiser for Trump in Manhattan, along with SkyBridge Capital’s Anthony Scaramucci and others. Scaramucci said hedge-fund managers were making a mistake by making financial contributions to Clinton. “The hedge-fund community has been wrong about a lot this year,” he said. “You can add this to the list,” he told the Journal.
© 2021 Newsmax Finance. All rights reserved.