Wall Street quietly hopes another Dem wins party nomination

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Joe Biden talks on the phone with former Vice President Al Gore to wish him a Happy 75th Birthday, Thursday, March 30, 2023, in the Center Hall of the White House. (Official White House photo by Cameron Smith)
Joe Biden talks on the phone with former Vice President Al Gore to wish him a Happy 75th Birthday, Thursday, March 30, 2023, in the Center Hall of the White House. (Official White House photo by Cameron Smith)

Mary Lou Masters
Daily Caller News Foundation

Wall Street executives privately disclosed their hopes that another Democrat wins the party’s nomination instead of President Joe Biden, according to The Wall Street Journal.

The corporate deal-makers don’t like Biden’s antitrust policies and are seeking other Democratic contenders to challenge the president in 2024, according to the WSJ. Blue-backing Wall Street executives who don’t want Biden to be the nominee again pitched alternatives like JPMorgan Chase CEO Jamie Dimon and Ray McGuire, the Lazard president.

“Everybody is hoping for a miracle,” a senior Wall Street negotiator told the WSJ. “Nobody wants Biden, and nobody wants Trump.”

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While Blair Effron, co-founder of Centerview Partners, President of Blackstone Jonathan Gray and financier Antonio Weiss will likely back Biden as the nominee, other Wall Street executives are considering longshots like Jamie Dimon and Ray McGuire, the WSJ reported.

Dimon is the CEO of JPMorgan Chase who said in 2018 he “could beat” then-President Donald Trump in an election, but feared he couldn’t win against “the liberal side” of the party; the CEO said on May 22 that he wasn’t planning on leaving the company any time soon. McGuire is the president of Lazard and a former New York City mayoral candidate who ran against Mayor Eric Adams for the Democratic nomination in 2021.

Other Democrats have grown increasingly concerned about Biden’s age and mental acuity as he seeks reelection, with his approval rating remaining low at 37%, multiple outlets reported. Biden is already the oldest U.S. president in history, and would be 86 by the end of his second term if he wins in 2024.

The Real Clear Politics (RCP) average for the 2024 national Democratic primary, based on polls conducted between May 3 and May 22, indicates that Biden has 59.3% support, followed by Robert F. Kennedy Jr. and Marianne Williamson at 16.8% and 6.8%, respectively.

The Wall Street executives also don’t want Trump to be the Republican nominee, and are looking to alternatives like conservative businessman Vivek Ramaswamy and Florida Gov. Ron DeSantis, who made his highly anticipated entrance into the growing GOP primary field last week, according to the WSJ.

“I am hoping it is not Trump,” Home Depot co-founder and financier Ken Langone, who says he no longer supports the former president after Jan. 6, told the WSJ.

The White House did not immediately respond to the Daily Caller News Foundation’s request for comment.

This story originally was published by the Daily Caller News Foundation.

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