Watch LIVE

Report: Wall Street donors so anxious about Elizabeth Warren they are holding back money for 2020 Dem Senate races


Some Democrat donors may actually prefer a GOP-controlled Senate if Warren were to win the presidency

Sara Stathas/Bloomberg via Getty Images

Are Elizabeth Warren's socialistic economic policies hampering the Democrat Party's chances of taking back the Senate in 2020?

According to this CNBC report, the answer is yes. The report states:

"Some finance executives have recently told Senate Minority Leader Chuck Schumer (D-N.Y.) that they are, for the moment, holding back from donating to Democrats running for Senate in 2020 due to their concerns with Warren becoming a front-runner in the race for the party's presidential nomination.

These financiers, which include hedge fund managers and private equity executives, are also worried that Warren's policies, were she to defeat President Donald Trump, could be detrimental to their businesses."

The report goes on to say that the move by Wall Street donors is intended to pressure Democrat Party leadership, and Sen. Schumer in particular, to distance themselves from Warren's economic policies. Schumer represents New York in the Senate and has received millions of dollars in donations from Wall Street.

Warren has made Wall Street a primary target of her campaign, not only by threatening higher taxes for wealthy individuals, but by castigating Wall Street firms as boogeymen-of-sorts, readily embracing the campaign tagline: "Stop Wall Street Looting."

Now that the most recent national polls show Warren closing the gap on former Vice President Joe Biden — Real Clear Politics' polling data shows Biden's lead dwindling to just 4 points in two recent polls — Democrat donors on Wall Street are growing frustrated and hitting back.

Republicans currently have a 53-47 majority in the Senate, so Democrats would need to net four seats in the 2020 elections to take control. Without major donors, the probability of a Democrat Senate takeover diminishes greatly.

But according to the report, some Democrat donors may actually prefer a Republican-controlled Senate if Elizabeth Warren were to be elected as the next president. The report states, "They believe Republicans could keep [Warren's] potential administration in check if the GOP holds onto or expand its Senate majority."

Most recent
All Articles