With one Wall Street executive and GOP megadonor lamenting, "The street still hopes for somebody else,” Politico reports Monday that financiers and business executives are not pleased with the potential presidential candidate leaders — specifically Donald Trump.
As the report notes, one thing Wall Street prizes above all — besides profits — is stability, and based on Trump's wild swings on trade and finance during his first term, it was in short supply.
GOP donor Thomas Peterffy, founder of Interactive Brokers, claimed another Trump presidency portends “incalculable and unpredictable” risks while, at the same time, admitting he would likely vote for the former president if he lands the 2024 GOP nomination.
"Peterffy’s comments reflect the collective angst of Wall Street Republicans whose views on Trump are completely divorced from those of the GOP base, according to conversations with more than a dozen bankers, attorneys, political consultants and asset managers," Politico reported before adding, "For some, the thought of a second Trump term will be enough to keep them off the field."
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"Wall Street likes predictability. And while some of the finance industry’s kingmakers might blanch at the thought of four more years of President Joe Biden, the potential dysfunction of a second Trump term could raise existential questions about the future of American democracy."
That, in turn, has led to alternative GOP candidates like former U.N ambassador Nikki Haley being flooded with Wall Street money as she edges closer in the polls to Trump.
According to former Sen. Bob Corker (R-TN), "My sense is Wall Street will be somewhat split on a Trump-Biden rematch. The border issue, foreign policy, regulation, trade, stability and mental clarity will weigh on people in varying ways.”
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