Jeb Bush is leading the U.S. presidential campaign by at least one measure: financial support from Wall Street.
The former Florida governor who is seeking the Republican presidential nomination received more financial backing than any competitor – Democrat or Republican – from employees of the major Wall Street banks between July and the end of September, campaign filings released on Thursday show.
Employees from Bank of America
The sums are miniscule compared to Bush’s total haul for the quarter of $13.4 million. But his popularity among financiers is starkly different from his standing in the multitude of national polls.
Bush, seen as a moderate in the crowded Republican field where 14 candidates are competing for the nomination, trails Donald Trump, Ben Carson and Carly Fiorina, three candidates who have never held elected office, in every major poll.
The second most popular candidate on Wall Street according to giving patterns is Democratic front-runner and former Secretary of State Hillary Clinton. She took in nearly $84,000 from employees of the same banks.
No other candidates came close to Clinton and Bush. Florida Senator Marco Rubio, another establishment Republican, raised more than $25,000, while Texas Senator Ted Cruz took in $17,000.
Seth Klarman, the Boston-based billionaire founder of the Baupost Group, gave Rubio $2,800 but his support wasn’t exclusive. He almost gave twice as much to Fiorina.
Upstart candidates on both sides won very little support from Wall Street. Employees at the banks gave $4,843 to Vermont Senator Bernie Sanders, Clinton’s closest rival and a self-described democratic socialist. Carson took in just over $8,000 from Wall Street.
Rubio got a look from another hedge fund billionaire, Paul Singer, who sent in $2,700 to the candidate. But it’s not clear Singer truly went all-in: in the same quarter, Rubio sent him $2,700 back.
California bill to establish nation’s second public bank applauded as ‘historic challenge to Wall Street domination’
"If California is serious about addressing racial and income inequities, we must create a banking system that centers people not profits."
In a move advocacy groups celebrated as a "historic challenge to Wall Street domination of municipal finances," a pair of California state lawmakers on Thursday unveiled legislation that would establish the nation's second publicly-owned bank and empower the institution to lend to businesses and local governments fighting to stay afloat amid the Covid-19 pandemic.
What is China doing to stop Beijing’s new coronavirus outbreak?
Over 1,000 flights have been cancelled, schools shut and residents urged not to leave Beijing, as Chinese authorities race to contain a fresh outbreak linked to the capital's largest wholesale food market.
The number of confirmed cases in the capital has shot up to 137 within the last week after two months of no cases, and four other provinces have revealed cases linked to the Beijing cluster.
How did the outbreak begin, and what measures are Beijing taking to contain it?
- What is the origin of the cluster? -
Beijing had turned into a virtual fortress at the height of the pandemic, with people arriving from other regions or countries required to undergo quarantines.
Democrats and Never-Trumpers gaming out ‘doomsday scenarios’ if president refuses to leave office: report
According to a report in the New York Times, Democratic strategists and Never-Trumper conservatives fear Donald Trump will refuse to leave office should he lose in November and are making plans and figuring out their legal options should such an unprecedented state of affairs come to pass.
The report, by the Times' Reid Epstein, begins with one such possible scenario.