Joe Biden tried to play the old Barack Obama line and claim that Trump was the candidate of Wall Street. Trump rightly pointed out that Biden was full of malarkey.
“You’re the one that takes the money from Wall Street, not me,” Trump said in an overstatement, but he still provided a correction.
According to the Center for Responsive Politics, Biden has out-raised Trump by nearly 50% from the broader financial sector, $32.8 million for Biden to $21.6 million for Trump.
From the narrower “securities and investment” industry, Biden’s advantage is much larger, $8.0 million to $1.9 million, more than 4-to-1. A 4-to-1 advantage in Wall Street money is huge, and so it’s simply audacious that Biden would imply Trump was the Wall Street candidate.
Among commercial banks, Biden leads 2-to-1. Venture capital? Biden leads 7-to-1. From hedge funds, Biden’s cash advantage is even bigger.
Biden has a long and somewhat sordid history with banks.
In 2010 I wrote a bit about it:
“Biden’s greatest source of campaign funds while pushing the bankruptcy reform bill was Delaware bank MBNA. The relationship began during the 1996 election, just after the bank moved to Wilmington. Biden that year sold his house to a top MBNA executive and campaign supporter for $1.2 million, which equaled Biden’s asking price and the appraisal at a time when nearby homes were selling for less than appraised value. Biden angrily denied charges that the sale was a sweetheart deal. Once Biden won re-election, MBNA hired his son Hunter as a “consultant”.
