“Conservatives on Wall Street and in the broader finance community apparently no longer consider President Donald Trump a worthy investment. People in the securities and investment industry pumped $20 million into his 2016 run for president, with most going toward super PACs backing his candidacy, according to the nonpartisan Center for Responsive Politics. That total doesn’t also include the millions of Wall Street contributions that went toward the president’s inauguration after he defeated Hillary Clinton” CNBC reports.
“This time, though, donors in the same industry have given just over $13 million to back Trump. It doesn’t look like he’ll make up the difference in the campaign’s final stretch, either, according to GOP strategists. Meanwhile, many of the people who donated to his inaugural committee have disappeared from the fundraising scene. ‘Wall Street craves policy, predictability and strong government institutions. Trump has delivered the opposite. The Covid crisis gave Wall Streeters the excuse they needed to move,’ said a GOP advisor who works for a former Trump donor in the finance world, who pointed to Biden as the alternative many in the finance world were looking for.”