No one knows Mayor Bill de Blasio and Sen. Kirsten Gillibrand better than their fellow New Yorkers. And their fellow New Yorkers aren’t supporting their presidential bids.
The Democratic debates are coming, and both candidates find themselves embarrassingly without support at home. The big money from Wall Street that each was undoubtedly counting on is flowing, all right – to other candidates.
Both have trailed party front-runners in support from major donors in New York, according to The New York Times. Banking dollars are going to former Vice President Joe Biden, California Sen. Kamala Harris and Mayor Pete Buttigieg of South Bend, Ind.
In his opening campaign video, Crain’s New York Business reported, de Blasio “vowed to take on major corporations and the wealthy. The mayor’s fundraising efforts already have raised concerns over potential conflicts of interest, however. An earlier Times story reported that a fundraising event in Boston for de Blasio was hosted by a construction company aggressively seeking to expand its business in New York City. De Blasio has begun calling many of the same New York donors he leaned on to fund his mayoral campaigns, according to the Times. As for Gillibrand, the report says donors are struck by the lack of traction to this point for the state’s junior U.S. senator.”
The media chooses its darlings, and apparently neither de Blasio nor Gillibrand are among them. On the other hand, as the New York Times recently reported, “A surprising development in the 2020 race is how quickly Pete Buttigieg, a virtual unknown only a few months ago, has vaulted into competition with Joe Biden and other leading candidates for Wall Street donors.”
The Times added, “The behind-the-scenes competition for Wall Street money in the 2020 presidential race is reaching a fevered peak this week as no less than nine Democrats are holding New York fund-raisers in a span of nine days, racing ahead of a June 30 filing deadline when they must disclose their latest financial hauls.”
Wall Street’s continued support of Democratic candidates in general leaves some scratching their heads. According to rollcall.com, “some of the nearly two dozen Democrats running for president are retreading the populist path that runs roughshod over Wall Street. The candidates hope bashing big banks still resonates with voters, but they’re also broadening the message to include other economic issues that divide the haves from the have-nots. “The last three presidential elections have all been Main Street versus Wall Street, and — increasingly — about the Rust Belt versus Wall Street,” said Andy Green, managing director of economic policy at the Center for American Progress.”
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