How big of a disaster is Elizabeth Warren’s radical socialist candidacy? Even the candidacy alone is choking off the money that the Democrats need to take and hold Senate seats.
Some finance executives have recently told Senate Minority Leader Chuck Schumer that they are, for the moment, holding back from donating to Democrats running for Senate in 2020 due to their concerns with Warren becoming a front-runner in the race for the party’s presidential nomination, according to people familiar with the conversations. These people spoke on the condition of anonymity due to the private nature of the talks.
The move is intended to put pressure on party leadership and Schumer, who represents New York and has received millions of dollars in donations from Wall Street, to distance themselves from Warren’s economic populism.
These financiers, which include hedge fund managers and private equity executives, are also worried that Warren’s policies, were she to defeat President Donald Trump, could be detrimental to their businesses. They believe Republicans could keep her potential administration in check if the GOP holds onto or expands its Senate majority. Republicans have a 53-47 majority in the Senate; Democrats need to flip a net of four seats to take control.
That translates into wealthy liberals donating to the GOP with a mandate to hold the Senate and block Warren. Not that GOP members of the House and Senate were especially successful in blocking anything Obama wanted to do, but the theory is that things could have been even worse. In any case, we’re talking about folks new to being bitterly disappointed by th GOP. And some of whom are posturing.
If Warren becomes the nominee, scales back the rhetoric she used to win the nomination (entirely possible as unlike Bernie, Warren is a political chameleon who uses her fake radicalism for political gain), they may very well come crawling back.
But, either way, the Warren candidacy is already hurting Democrats down ballot. And she’s said a whole lot of things she won’t be able to take back,