Report: Joe Biden Promises Wall Street Donors the Status Quo in Private Calls

Democrat presidential candidate Joe Biden is promising Wall Street donors the economic status quo that they became used to before President Donald Trump’s administration, according to a report.

An investment banker on Wall Street told the Washington Post that in private calls with financial executives two months ago, Biden’s campaign assured them that talk of populist reforms on the campaign trail was nothing more than talking points.

The Post reports:

When Joe Biden released economic recommendations two months ago, they included a few ideas that worried some powerful bankers: allowing banking at the post office, for example, and having the Federal Reserve guarantee all Americans a bank account. [Emphasis added]

But in private calls with Wall Street leaders, the Biden campaign made it clear those proposals would not be centralto Biden’s agenda. [Emphasis added]

“They basically said, ‘Listen, this is just an exercise to keep the Warren people happy, and don’t read too much into it,’” said one investment banker, referring to liberal supporters of Sen. Elizabeth Warren (D-Mass.). The banker, who spoke on the condition of anonymity to describe private talks, said that message was conveyed on multiple calls. [Emphasis added]

In a statement to the Post, Biden’s campaign downplayed the influence of Sen. Bernie Sanders (I-VT) and Sen. Elizabeth Warren (D-MA) — left populists on trade and economic policy — on the former vice president’s agenda.

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