This Could Be It For Biden: Top Donors Back New Dem
Biden looks to be in a death spiral. He has made a poor showing in both Iowa and New Hampshire, which has ruined the confidence many Americans had in him. But it appears things have become even worse for Biden as now Top Financiers are claiming that money they were going to give Biden is no longer for the former Dems Frontrunner, it's for Bloomberg. And he hasn't even participated in debate or a primary yet.
"Behind the scenes, the word from the party’s fat-cat set is that the Biden campaign may already be lost despite the Wall Street C-suite names attending the events because former New York City Mayor Michael Bloomberg is poised to take sole control of the party’s moderate wing.
“I feel sorry for Biden,” said Leon Cooperman, a billionaire hedge fund investor who has supported Democrats in the past despite being critical of President Obama. “He should withdraw; he has no chance.”
Like Cooperman, these executives — who work at hedge funds, on Wall Street and in real estate — cite as evidence several factors including Biden’s poor showing in the Iowa caucus and New Hampshire primary. They say that much of the money delivered to the Biden campaign as part of Thursday fundraisers at New York City restaurants Sarabeth’s and The Wayfarer was earmarked before his big losses in Iowa and New Hampshire and that big donors have more recently pulled back.
Even more importantly, they point to the emergence of Bloomberg — well-known among the Wall Street money set since many of them are his friends. The former New York City mayor was a Wall Street trader before he started the eponymous news and financial data outfit that made him one of the richest men in America, worth an estimated $60 billion. As FOX Business was first to report, Bloomberg is planning to spend as much as $2 billion of his fortune on the 2020 campaign to either personally defeat President Trump — whom he personally loathes — or finance the Democratic nominee.
Cooperman was one of the first money men to openly support Bloomberg, who isn’t taking outside money but has been soliciting support from key financiers. Cooperman says Sanders, despite his current front-runner status, is ultimately unelectable. “Sanders is a communist and we are not ready for a communist or socialist as president,” Cooperman said.
Bloomberg, meanwhile, could win the nomination possibly through a so-called brokered convention, where there is no clear-cut victor, when the Democratic convention in Milwaukee opens in July and delegates fight over the winner, he added. With the nomination undecided and Sanders still in the race, Bloomberg could convince enough delegates that the same policies he pushed as mayor — fiscal conservatism and advocacy for progressive laws on issues such as the environment and guns — not to mention limitless funds..."
Bad poll results and now billionaires are pulling out, this could be all she wrote for Biden. It looks like not even an endorsement from Obama could save him at this point.