Skip to main content

Wall Street Doesn't Want Clinton To Pick Warren As VP

Top Democratic donors from the financial sector have warned that if presumptive Democratic nominee Hillary Clinton taps Democratic Sen. Elizabeth Warren of Massachusetts as her running mate, they will turn on her.

Warren, a darling of the progressive wing of the Democratic Party, has been tipped as one of the most likely candidates to join the Clinton ticket.

She is among the small pool of contenders currently being vetted by the Clinton team, alongside Labor Secretary Tom Perez, Housing and Urban Development Secretary Julian Castro, Democratic Sen. Tim Kaine of Virginia, Sen. Sherrod Brown of Ohio and Sen. Cory Booker of New Jersey, according to Reuters.

Warren even visited the Clinton campaign headquarters in Brooklyn, New York, on June 17, indicating that the senator has been growing increasingly more involved with the presumed nominee, CNN reports.

But a dozen anonymous Democratic donors from the financial industry, the largest fundraising base for Clinton, told Politico that selecting Warren would sow distrust between Democratic nominee and the business sector.

“If Clinton picked Warren, her whole base on Wall Street would leave her,” said a Clinton donor. “They would literally just say, ‘We have no qualms with you moving left, we understand all the things you’ve had to do because of Bernie Sanders, but if you are going there with Warren, we just can’t trust you, you’ve killed it.”

Warren is the founder of the Consumer Financial Protection Bureau and has been a vocal critic of Wall Street. The senator has been touted as a potentially game-changing running mate to pacify the concerns of Sen. Bernie Sanders of Vermont’s voter base, but top donors believe that she would actually derail any compromise between Clinton and Republican lawmakers.

“Clinton is going to face a divided government unless there is a total tsunami,” said one Democrat aligned with the banking industry. “What you want in a vice president is someone who can negotiate for you on the Hill ... And that is not a Warren strength.”

Wall Street historian Charles Geisst of Manhattan College observed that it is not surprising that Democrats from the financial sector would reject Warren, citing that they view her Wall Street reform views as a threat.

“It’s not so much that Wall Street doesn’t like her personally, most of them don’t even know her, but they don’t like anyone that espouses that particular ideology,” Geisst said.

One senior executive from Wall Street who is also a Clinton ally views Warren as an unnecessary running mate, signaling that Democrats from the financial sector believe Clinton will win the November election easily.

“We are going to win this,” the executive said. “Trump shouldn’t be president and he isn't going to be president. Picking Warren would indicate weakness and panic for no reason and make them look like they are running scared of Trump.

“There will be plenty of time to galvanize the left and get them to come out,” the executive added. “And Warren would be a nightmare to try and manage.”

Sources: Reuters via Business Insider, CNN, Politico / Photo credit: AFGE/Flickr

Popular Video