Wall Street leaders on Tuesday cheered Joe Biden’s selection of Sen. Kamala Harris as his running mate in the presidential election.
- Wall Street leaders on Tuesday cheered Joe Biden’s selection of Sen. Kamala Harris as his running mate in the presidential election.
- Finance executives, confident the ticket has what it takes to topple President Donald Trump, raved about her experience in government, as well as her fundraising prowess.
- Financial advisory firm Signum Global is already telling its clients that the choice of Harris reinforces the notion that the Democratic ticket is more moderate than progressive.
Finance executives, confident the ticket has what it takes to topple President Donald Trump, raved about her experience in government, as well as her fundraising prowess.
“I think it’s great,” said Marc Lasry, the CEO of investment firm Avenue Capital Group. “She’s going to help Joe immensely. He picked the perfect partner.” Lasry is also a part owner of the NBA’s Milwaukee Bucks.
Blair Effron, the co-founder of Centerview Partners, texted “GREAT CHOICE” to CNBC. Citigroup’s Ray McGuire sent a similar message.
When she ran for president last year, Harris saw contributions from executives in a wide range of industries, including film, TV, real estate and finance, according to data from the nonpartisan Center for Responsive Politics. Her campaign finished raising close to $40 million.
Harris, who dropped out of the race in December, opened up a joint fundraising committee with the Democratic National Committee earlier this year, allowing her to raise six figure checks that mainly went to the party as a whole.
Harris, a former California attorney general, also overcame headwinds from a group of Biden allies who privately tried to block her from becoming the nominee for vice president.
Financial advisory firm Signum Global is already telling its clients that the choice of Harris reinforces the notion that the Democratic ticket is more moderate than progressive.
Jon Henes, a partner at corporate restructuring firm Kirkland & Ellis who was Harris’ national finance chairman when she ran for president, told CNBC that the choice shows Biden’s strong judgment. He added that her supporters are ready to give Democrats the backing they need to defeat Trump.
“Vice President Biden’s first decision is the perfect one and demonstrates his excellent judgement,” Henes said. “Kamala’s supporters will follow her lead and work non-stop to help Biden and Harris win this historic and critical election.”
Prior to Biden’s announcement, his fundraisers were plotting a virtual fundraising blitz that is now set to feature Harris. Her addition to the ticket could help push the Biden campaign over the top in the cash race with Trump.
Last month, Biden and the Democratic National Committee combined to raise $140 million, while Trump and the Republican National Committee brought in $165 million. Biden and the DNC went into August with $295 million on hand and Trump’s team had $300 million.
Mike Kempner, the founder of public relations juggernaut, MWWPR, lauded Harris’ fundraising track record.
“She has a strong and active fundraising organization. She will be an important and immediate addition to the Biden fundraising effort. She is a fundraising star,” Kempner said. “Her experience as a prosecutor makes her uniquely qualified to deliver the case against Trump.”
Charles Myers, the founder of Signum and a former vice chair of Evercore, told CNBC that the choice eased the nerves of clients who were questioning whether Biden would stay in the moderate lane.
“Our clients really wanted to know if Biden was going to stay in the center, and his pick of Harris reinforces that,” he said on Tuesday.
A note he sent to his clients reinforced that point.
“Harris, who generally could be called a centrist, will not push Biden to the left or the right on major policy issues. She will be supportive of Biden and the Democratic Party’s policy platform,” the note reads.
To play the other side, you guys are hating on Kamala but given the choices Biden had, she is more moderate than everyone else. Also has legislative and prosecutor experience. Dems still have to win over their leftists.
Kamala Harris is the diversity hire, far left but not as crazy left as Rashida, the incestuous nigerian or AOC
If the Dems really wanted to win they would have picked Tulsi. They only want to win if they stay on the Democrat plantation of "blame the GOP/white supremacists for all your problems".
Kamala Harris far left? She's basically a moderate Republican. She's against Medicare For All, she's against ending student debt, she's against the Green New Deal. How is she far left when she doesn't even agree with the lefts platform?
She voted with Republicans over 80% of the time and prosecuted minorities left and right in California and put them all in jail. She is the true law and order candidate if you really think about it. She is not a leftist, not even close. She's a conservative Republican based on her voting record.
Suddenly Hillary looks like a better candidate ?!I've been thinking about the selection and I'm still not understanding it.
Typically the VP is chosen to fill out demographics. The only reason I can think to select her is identity politics.
It seems like the democrats are not trying to win the election with this selection. And Biden was 'selected' without the primaries running their course, basically just anointed. The same seems to have happened with her selection.
- Black men would hardly vote for a woman, much less a 'black' one, especially that has bragged about setting a record about putting the most black men in jail.
- Black women almost always vote democrat, so you're not 'winning' that vote
- Most moderates can see Biden's mental state slipping. Not to mention his 'touching' issues which will be brought up again. So you have to assume he won't make it out of his term and putting her in the WH. Remember the Palin effect and how many people were turned away from McCain because of her (including me)?
- She said she believed Biden's accusers, so she's running with a guy she believes assaults and rapes women. How is that going to play with (white) #metoo women?
- Their side has been shouting Defund Police and Fuck Cops, for months, and now they bring in a cop to the ticket
What's missing? What's going on here? Are they 'conceding' so as not to damage future 'better' candidates? I'm assuming the plan is still mass mail-in votes, but that seems risky (or does it)? On the face of it this looks like a horrible ticket from their viewpoint. The only thing going for them is 'Not Trump'. Which when coincided with the virus, deliberate crashing of the economy, the increased racial divisions from BLM, this weak ticket was on life support from the beginning. There's something else happening here.
Perhaps this should be posted in the Big Picture thread.