>>> WELCOME BACK. I’M STEPHANIE RUHLE.
DEMOCRATS PITCHING AN ANTI WALL
STREET, ANTI-CORPORATE MESSAGE,
HOPING IT WINS OVER LOWER AND
MIDDLE CLASS AMERICANS WHO SEE
THE ECONOMY AS STACKED AGAINST
THEM.
THEM. BUT IT MIGHT ALSO BE PUSHING
DEMOCRATIC BUSINESS LEADERS INTO
THE PRESIDENT’S CAMP.
LAUREN LOPEZ IS A POLITICAL
REPORTER, AND GABE DE-BEN
DEBTITY NATIONAL CORRESPONDENT,
AND GABE, THIS IS AMAZING TO ME
BECAUSE PRESIDENT TRUMP, HE
RAILED AGAINST WALL STREET.
HE RAILED AGAINST CORPORATE
AMERICA AND WALL STREET DOESN’T
VOTE FOR HIM.
AND NOW QUIETLY MANY WALL STREET
DONORS ARE SAYING I CAN’T STAND
TRUMP.
TRUMP. I THINK HE IS A WHACK A DO.
BUT IF MY CHOICE IS ELIZABETH
WARREN OR TRUMP, I’M NOT BUYING
A MAGA HAT, BUT I’M GOING TO
VOTE FOR HIM.
>> THEY ARE BASICALLY TERRIFIED
OF ELIZABETH WARREN AND BERNIE
SANDERS BOTH BECAUSE OF WHAT
THEY SEE AS ANTI-WALL STREET,
ANTI-CAPITALIST IN?
ANTI-CAPITALIST IN? WAY RHETORIC.
WAY RHETORIC. SO THEY ARE NOT NECESSARILY
SAYING WE GOT TO GO FOR TRUMP,
BUT THEY TRYING TO FIND A
CANDIDATE THAT THEY THINK CAN
ACTUALLY WIN AND THAT CAN
ACTUALLY BEAT DONALD TRUMP AND
NOT BE TOO HOSTILE TO THEM.
AND A LOT OF THEM ARE FINDING
THAT PRETTY DIFFICULT.
>> LAURA, YOU COVER DEMOCRATIC
CANDIDATES.
CANDIDATES. DO THEY SEE ANY KIND OF
POLITICAL DOWN SIDE BY HAVING
WALL STREET UPSET WITH THEM?
AND LET’S JUST MAKE SOMETHING
CLEAR.
CLEAR. IS THIS ABOUT POLITICAL
DONATIONS?
DONATIONS? BECAUSE IT IS HARDLY LIKE HEDGE
FUND MANAGERS ARE A BIG VOTING
BLOC.
BLOC. >> RIGHT.
>> RIGHT. I THINK POLITICAL DONATIONS PLAY
A BIG KEY HERE.
WARREN AND SANDERS HAVE BOTH
SWORN OFF CORPORATE PACS.
WARREN HAS PROBABLY GONE THE
FURTHEST WHEN IT COMES TO EVEN
SWEARING OFF BIG FUNDRAISERS,
SOMETHING THAT SHE KNOCKED
FRONTRUNNER JOE BIDEN ON EARLIER
THIS WEEK.
THIS WEEK. BUT WARREN I DON’T THINK SEES
ANY RISK TO THIS.
HER ANTI-GREED, ANTI-CORRUPTION
PLATFORM SHE THINKS IS
RESONATING WELL WITH VOTERS.
I WAS FOLLOWING HER IN SOUTH
CAROLINA AND SHE TALKS A LOT
ABOUT HER PROPOSAL TO TAX, A
WEALTH TAX THAT WOULD TAX PEOPLE
WHO ARE VERY WEALTHY, HAVE ARE
FORTUNES OF $50 MILLION OR MORE
AND IT WOULD BE A 2% TAX ON
THEM.
THEM. AND THAT RESONATED REALLY WELL
WITH VOTERS.
WITH VOTERS. SO FAR SHE HASN’T SEEN REALLY
ANY DOWN SIDE TO PUSHING THIS.
>> GABE, $50 MILLION OR MORE.
THAT IS NOT YOUR AVERAGE WALL
STREET PERSON, INVESTMENT PRO OR
EVEN CORPORATE PERSON.
SO YOU ACTUALLY WROTE IN YOUR
PIECE, YOU QUOTED AN INVESTMENT
PROFESSIONAL WHO HAS VOTED
DEMOCRAT HIS WHOLE CAREER.
BUT SUDDENLY HE IS SAYING WHAT
MATTERS MORE, MY SOCIAL VALUES
OR MY PAYCHECK.
WHY ARE WE FRAMING IT LIKE THIS?
WHY ARE WE FRAMING IT IN A WAY
THAT IT HAS TO BE ONE OR THE
OTHER?
OTHER? THERE ARE PLENTY OF
CANDIDATES -- YOU’VE GOT A
FORMER CONGRESSMAN FROM
MARYLAND.
MARYLAND. YOU’VE GOT JOE BIDEN.
YOU’VE GOT JOHN HICKENLOOPER.
A STRING OF DEMOCRATIC
CANDIDATES THAT ARE NOT YOU’RE A
CAPITALIST OR A SOCIALIST.
WHY ARE THEY ALLOWING THE FAR
RIGHT TO FRAME THIS WAY YOUR
ONLY CHOICE IS FULL SOCIALIST IF
YOU DON’T VOTE WITH TRUMP?
>> AND YOU’VE HIT ON SOMETHING
THAT --
THAT -- >> JOHN DELANEY.
COULDN’T FIND HIS NAME.
>> YOU HAVE HIT ON SOMETHING
THAT IS FRUSTRATING TO FOLKS WHO
HAVE BEEN DONORS TO DEMOCRATIC
CANDIDATES IN THE PAST.
THIS IS NOT REALLY A COMPETITION
BETWEEN SOCIALISM AND CAPITALISM
AS WE’RE LETTING IT TURN INTO IN
THIS NATIONAL CONVERSATION.
BUT I THINK SOME OF 9
FRUSTRATION IS WALL STREET IS
BEING USED AT A BOOGEYMAN.
NOT NECESSARILY AS MUCH IN
PREVIOUS CYCLES, BUT THEY ARE
NERVOUS ABOUT SOMEONE LIKE
BERNIE SANDERS.
BERNIE SANDERS. AND EVEN WHEN YOU LOOK AT
SOMEONE LIKE JOE BIDEN, JOE
BIDEN DOESN’T HAVE A LONG
HISTORY WITH WALL STREET.
HE NEVER HAD TO RAISE A LOT OF
MONEY WITH THEM WHEN HE WAS
RUNNING FOR SENATE.
HE OBVIOUSLY WAS NUMBER TWO TO
PRESIDENT OBAMA.
PRESIDENT OBAMA. HE IS TRYING TO CHANGE THAT NOW.
AND A LOT OF THEM DO LIKE JOE
BIDEN, BUT THEY ARE STILL NOT
100% THERE YET.
>> BUT LAURA, AGAIN, ARE WE --
ARE THEY ALLOWING SOMEONE ELSE
TO CREATE THE NARRATIVE?
STEVE SCHWARTZMAN, CO-FOUNDER OF
BLACKSTONE WHO WENT WITH
PRESIDENT TRUMP TO SAUDI ARABIA
AND ON THAT TRIP RAISED A $40
BILLION INFRASTRUCTURE FUND,
STEVE SCHWARTZMAN WHO BENEFITED
IMMENSELY FROM THE FACT THAT
CARRIED INTEREST THOUGH THE
PRESIDENT PROMISED TO GET RID OF
IT REMAINED IN OUR TAX CODE,
WHICH IS AN EXTRAORDINARY HOOK
FOR THE PRIVATE EQUITY INDUSTRY,
HE SAID YESTERDAY IF THERE IS A
DRAMATIC CHANGE, IF DEMOCRATS
WIN, IT COULD BE A SHOCK TO THE
ECONOMY.
ECONOMY. THEY ARE ALLOWING MASSIVE
REPUBLICAN DONORS TO PUSH THIS
NARRATIVE THAT DEMOCRATS ARE
GOING TO TAX THE HELL OUT OF
THEM AND SHOCK THE SYSTEM.
AND YOUR AVERAGE VOTER OUT
THERE, WHILE THEY MIGHT NOT BE A
DEMOCRAT OR REPUBLICAN, ARE
SAYING I DON’T WANT TO SHOCK THE
SYSTEM.
SYSTEM. WHY ARE THESE DEMOCRATIC
CANDIDATES NOT SHUTTING IT DONEW
COMPLETELY?
COMPLETELY? >> I THINK THAT ON THE TRAIL
THEY ARE TRYING TO DO THAT.
ON THE TRAIL A LOT OF VOTERS
AREN’T NECESSARILY LISTENING TO
TRUMP WHEN IT COMES TO THAT.
THEY STILL FEEL AS THOUGH THAT
THE ECONOMY HAS NOT GOTTEN
BETTER FOR THEM.
SO WHILE THE GOOD HEADLINES OF
GOOD GDP NUMBERS AND THE ECONOMY
THAT IS BOOMING MAY SOUND --
HAVE GOOD SOUND BITES FOR TRUMP
AND MAY LET HIM SHIFT THE
MESSAGE A BIT WHEN IT COMES TO
DEMOCRATS, ON THE TRAIL VOTERS
ARE SAYING OUR WAGES ARE STILL
DOWN.
DOWN. HEALTH CARE COSTS ARE STILL
SOARING.
SOARING. WE STILL WANT TO SEE ACTION ON
PRESCRIPTION DRUG PRICES THAT
ARE HIGH.
ARE HIGH. AND SO THAT IS WHERE DEMOCRATS
ARE REALLY TRYING TO HAMMER
THEIR MESSAGE AND FOCUS ON THAT
BECAUSE WE SAW THAT IN 2018, IT
WORKED FOR THEM AND THEY ARE
HOPING TO CARRY THAT MOMENTUM
WITH THEM INTO 2020.
>> WE’LL SOON FIND OUT.
REMEMBER THE INVESTMENT