How Wall Street Could Influence the Election

How Wall Street Could Influence the Election

(FinancialHealth.net) – Last year, there were rumblings that Wall Street Democrats were very concerned about Senator Elizabeth Warren (D-MA) becoming president. Some of them were even Democratic donors and they were threatening to stay home or vote for President Trump in 2020.

Fast forward a few months, and the friction is back in the news again. This time, however, memos written by the research arm of Barclays bank are illustrating how terrible she’d be for Wall Street and big business.

According to a report by Mother Jones, Barclays wrote the memos and distributed them to its paying clients. They discussed a number of Warren’s policies and said her wealth tax would likely force those impacted to reduce their assets. The memos also reportedly said the senator would hurt Big Tech, the energy industry, investors, supermarkets, Big Pharma, and a number of other industries.

At first glance, it doesn’t seem like this is news to anyone. Warren isn’t exactly silent about how much she wants to reform all of those industries. It is significant, however, that Barclays prepared those documents for clients. Even though the researchers found she would help other industries, it’s not hard to imagine investors wanting nothing to do with a Warren presidency after that.

If Warren is nominated by her party and Wall Street decides to sit it out, that could eliminate voters who may have otherwise voted for a Democrat. With a race that’s sure to be as razor-thin as 2016, that loss may result in President Trump winning again.

~Here’s to Your Financial Health!

Copyright 2020, FinancialHealth.net

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