Whether it’s “debanking” conservatives or bureaucrats planning to “resist” Trump if he wins a second term to working desperately to prevent third parties from getting on the ballot, Democrats have spent the last few years claiming that everything they do is “defending democracy.”
Last week, while memorializing D-Day, Biden got into the act, when he wasn’t confusedly mumbling, claimed that “America first” Republicans were a threat to democracy.
Unfortunately for him and his fellow Democrats, no one is buying it, especially some of the biggest campaign funders in America.
Politico reports that the Wall Street executives who shunned Trump for years have come back to him, ignoring Biden’s obsessive focus on the mobbing of the Capitol on January 6, 2021.
Many high-dollar donors at banks, hedge funds and other financial firms had turned their backs on Trump as he spun unfounded claims that the 2020 election had been stolen and savaged the judicial system with attacks. Today, they’re setting aside those concerns, looking past qualms about his personality and willingness to bulldoze institutional norms and focusing instead on issues closer to the heart: how he might ease regulations, cut their taxes or flex U.S. power on the global stage.
“I don’t know that anyone really believed he was a threat to democracy,” said Point Bridge Capital founder Hal Lambert, an investor and Republican donor. Lambert had backed Florida Gov. Ron DeSantis in the 2024 primary but is now supporting Trump.
Republican business titans from hedge fund executive Nelson Peltz to hotel mogul Robert Bigelow have come out in favor of the presumptive GOP nominee. Even those who loudly denounced Trump’s efforts to overturn the results of the 2020 election are backing his bid to return to the White House.
Blackstone Group CEO Stephen Schwarzman — who once labeled the U.S. Capitol insurrection that followed a Trump speech on Jan. 6, 2021, “an affront to the democratic values” of the country — is once again one of the former president’s most important allies on Wall Street. Top financiers like hedge fund billionaire Bill Ackman, who called on the then-president to resign over the riot, and Citadel’s Ken Griffin, who dubbed Trump a “three-time loser” in elections, are considering offering their support.
Following his guilty verdict in New York, donors big and small have flocked to Trump, likely recognizing Biden’s claim to “defend democracy” while looking to jail your opponents is actually more of a threat to the American way of life.
The Associated Press reported that “Donald Trump ‘s campaign and the Republican National Committee say they raised $141 million in May, a massive fundraising haul that includes tens of millions of dollars raised in the aftermath of his guilty verdict in his criminal hush money trial.
Trump’s campaign said in a press release Monday that it had received more than two million donations in the month of May averaging $70.27. More than a third of that haul — 37.6% — came in the form of online contributions in the 24 hours after the verdict was announced, it said.
About a quarter of the donors, it said, were new to the campaign.”
Roughly $50 million poured into the former president’s campaign in the first 24 hours following his guilty verdict, boosting the campaign numbers.
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