Hordes of industry executives will descend on the city to celebrate Hillary Clinton’s nomination for president and renew close associations that vexed the Democratic standard-bearer throughout her primary battle with Bernie Sanders.
Blackstone, one of the nation’s largest private equity firms, will hold an official reception in Philadelphia on Thursday featuring its president, Tony James, sometimes mentioned as a possible Treasury Secretary in a Clinton administration.
The financial contingent will be in an especially good mood following Clinton’s selection of Virginia Sen. Tim Kaine as her running mate. Kaine has shown a willingness to fight for regional bank relief from the Dodd-Frank financial reform law. But more than that, he’s not Elizabeth Warren, the potential VP pick that long had Wall Street terrified.
Republicans with ties to the financial industry will also be there, a sharp contrast to Donald Trump’s convention in Cleveland, which Wall Street largely shunned over fears of the GOP nominee’s populist agenda on trade, immigration and Wall Street reform.
Wall Street, America’s most despised industry, is putting all of its eggs in the Hillary Clinton basket. I must say, I’m actually pretty shocked at the extent to which the industry’s heavyweights are backing her. There’s really only one explanation — they know she’s a sure thing.