Breitbart reported on a story published by CNN claiming that the biggest banks on Wall Street have donated five times more to Joe Biden’s campaign than towards President Trump’s re-election.
A CNN analyst discovered that the big banks on Wall Street have given more to Biden than they donated to the the Democrats’ previous candidate, Hillary Clinton in 2016 claiming that “all the big banks are backing Biden” in his pursuit of the White House.
According to CNN, the securities and investment industry, which is led by stockbrokers, bond dealers and brokerage houses, have donated “$10.5 million to Trump’s presidential campaign and outside groups aligned with it, according to a new tally by OpenSecrets. It has sent nearly five times as much cash, $51.1 million, to Democratic presidential nominee Joe Biden.”
They reported that during the same time period in the 2016 election “former New York Senator Hillary Clinton and groups aligned with her raised $88 million from the securities and investment industry, while Trump took in just $20.8 million.”
Employees of the big banks are also reportedly choosing to donate to Biden over President Trump. An analysis completed by OpenSecrets claimed that “Biden is sweeping up donations from employees by huge margins. At Goldman Sachs, for example, Biden has raised more than $156,000, while Trump has taken less than $12,000.”
JPMorgan Chase employees have also contributed more money to the Biden camapaign than to President Trump. Biden reportedly collected three times the donations as Trump totaling $380,000.
Morgan Stanley employees are behaving similarly, reportedly donating twice as much to Biden as President Trump. The Biden campaign allegedly collected $258,000 from those that work for the banking giant, while employees only donated $96,010 to President Trump’s campaign.
Breitbart reported that the Biden campaign reported to the Federal Election Commission that they collected over $1 million from the extremely wealthy residents of Park Avenue. President Trump’s campaign reported raising $127,000 from the same group of New Yorkers.
Biden reportedly promoted the support he was receiving from Wall Street while describing his plan to reform zoning laws to introduce multi-family buildings into suburban neighborhoods.
An analysis completed by the Center for Responsive Politics claims that Biden is so appealing to Wall Street that for the first time in ten years, financial executives are donating more money to Democrats running for office than Republican candidates.