2 Wall St fundraisers who'd backed Harris -- and Obama and Clinton -- now backing Biden

[highplainsdem]

https://www.cnbc.com/2019/12/19/joe-biden-gets-support-from-wall-street-fundraisers-lasry-effron.html

Joe Biden’s fundraising network is about to get a big boost just in time for 2020.

Marc Lasry and Blair Effron, two of the most influential and prolific Wall Street Democratic fundraisers, are lining up behind the former vice president in the presidential primary race now that Sen. Kamala Harris has dropped out.

Lasry, a longtime investor and a part owner of the NBA’s Milwaukee Bucks, is opening up his donor network to Biden just weeks after Harris withdrew from the Democratic race, according to people with direct knowledge of the matter.

Effron, co-founder of investment firm Centerview Partners, has also indicated to allies that he is going to put his fundraising connections to help Biden, these people added. They spoke on condition of anonymity because the decisions were deemed private.

Lasry and Effron were members of Harris’ finance committee, which included other Wall Street players such as Frank Baker, co-founder of Siris Capital Group. Effron and the Lasry family hosted several fundraising events for Harris before she dropped out.

-snip-

Lasry and Effron were marquee fundraisers for former President Barack Obama and Democratic candidate Hillary Clinton. In 2012, Lasry, according to data compiled by the nonpartisan Center for Responsive Politics, bundled over $500,000 for Obama. Four years later, he helped bring in over $100,000 for Clinton.

Effron bundled similar amounts for Obama and Clinton.

-snip-

[Sloumeau]

1. highplainsdem, thanks a bunch for posting this! :)

This is great news for Joe Biden!

[delisen]

4. Not so great for those of us crushed by the old school economics.

Somebody pays the bill for the Wall Street wealth.

Unfortunately it is usually us middle and working class
Americans who get our pockets emptied and then get kicked to the curb.

I've been spending much of my time lately interviewing people -many homeless now-who have not prospered in this century-and we are now 1/5 of the way through the 2000s.

[Demsrule86]

8. The idea we should hate all rich people in the Democratic Party including those who support our

ideas is a recipe for Republican electoral success...you need money to run period. And that will not change easily even if we win as it was a constitutional ruling by SCOTUS... another one of the consequences of not supporting Gore and Kerry fully.

look at the cash coming from big GOP donors...we can add regulation and fairness.
and that will help...mostly getting elected helps as that means the GOP is out. Obama did some really good things against all odds. I think some want all sorts of things which simply are not going to happen so we do the best we can given our circumstances. We can make things better if not perfect.

[TidalWave46]

10. It seems to me that there are two groups who want to promote and foster class warfare...

And then there is a group who truly wants to do something about the great wealth division. I believe you and I are a part of the latter.

[delisen]

12. Hating rich people has nothing to do with my post.

Possibly your post was meant for someone else. It really makes no sense as a response to my post.

[Fiendish Thingy]

2. Well, of course, who were they going to back? Warren? Sanders?

Biden has been a friend of the banksters for decades.

What's funny is you posted this as if it were a good thing...

[Demsrule86]

6. It is a good thing and despite these smears...Biden was the poorest Senator when he was in the

Senate...he had less money when he left than either Sanders or Warren do now...he was there much longer too. You need money to run period as Buttigieg said last night and Warren's unfair attack on him isn't going to help her IMHO. Biden is a good guy and I for one am sick of those who support someone else or just dislike him making these sort of attacks.

[Fiendish Thingy]

7. He supported/sponsored lots of bankster-friendly bills that hurt a lot of people

Including one that prohibited discharging student loan debt through bankruptcy, just to name one odious bill he supported.

[Demsrule86]

9. I know folks including friends and family members who went through bankruptcy...

and it was no big deal...most had simply ran up their credit cards...and Most were able to use Chapter 7...the one family member who couldn't ended up paying less than $2000.00 on $80,000 or so credit cards and other personal debt...you take a course my sis told me which most lawyers include in their fee...two courses actually.l So you all can beat that dead horse but it is dead. I do think we need to put student loans back into the bankruptcy law. And I think Biden will do that if he can. In fact it is big business...tons of lawyers practice bankruptcy law...without Biden and other Democrats working the bill, it could have been much worse.

[Demsrule86]

3. Good news...thanks for this and of course K&R...I think this shows that some influential people have

come to the conclusion that Biden will be the nominee.

[Hortensis]

11. I expected some of the bigger traditional donors who've been sitting

back and watching to come forward. Biden's continued way out ahead as the sole occupant of the top tier. A new poll examining only electability rated Biden at 44%, I think double and more than for those who've been scrabbling for months to advance from the second tier.

Biden's campaign's building a better internet-driven fundraising operation, but he came in later than his competitors and it obviously really wasn't doing well enough early enough. As of October, donations to reelect Trump were over $300 million, and that's just the beginning.