www.politico.com/…
Wall St has plans for Clinton’s first 100 days and are worried that Warren would complicate things.
Most big donors don’t want Warren on the ticket because she is the most accomplished anti-Wall Street populist in the Democratic Party. But many also think her presence would drive a potential Clinton administration too far to the left, poison relations with the private sector from the start and ultimately be damaging to the economy.
A constant theme that emerged in the interviews is that executives in the financial industry believe the first 100 days of a Clinton administration could feature potential deal making with Republicans, who are likely to maintain their majority in the House of Representatives.
The dream deal for Wall Street would be a combination of targeted infrastructure spending that appeals mostly to Democrats and corporate and international tax reform that could bring Republicans along. The fear is that Warren would make such a deal more difficult.
Naturally, Wall St has a big impact on how campaigns are financed.
Picking Warren would be risky for Clinton’s fundraising operation. The presumptive Democratic nominee hopes to raise $1.5 billion for her campaign against Trump, and Wall Street has been a big source of funding for her over the years.
According to the Center for Responsive Politics, Clinton and outside groups supporting her have raised $289 million so far in the 2016 cycle. The securities and investment industry is easily Clinton’s top source of cash, donating over $28 million so far, according to the CRP.
“Things are so volatile now with all of the outside groups that all it can take is pissing off one billionaire on Wall Street to make it difficult,” said Sheila Krumholz, executive director of the CRP. “And you don’t run national campaigns for as many years as Clinton has without some serious support from Wall Street, they are just too much of a heavy hitter.”
So it looks like progressives are going to just have to hope that Clinton combats economic inequality and takes on the big banks. Just not quite yet.