Despite Tough Talk on Wall Street, Biden Accepts Millions in Donations from 'Securities & Investment' Industry


Presumptive Democratic presidential nominee Joe Biden has touted himself as the champion for the middle class, but it appears his campaign is taking in millions of dollars in donations from the “securities & investment” industry.

Data from the Center for Responsive Politics shows that the former vice president’s campaign has received $29.7 million in donations from “securities & investment” industry employees, like the stockbrokers, bond dealers and brokerage house workers who make up a lot of Wall Street.

Collectively, the industry is Biden’s second-largest donor, following the Democratic Party and other left-wing organizations.

President Donald Trump, in comparison, received about $6.3 million from “securities & investment” industry employees.

According to data compiled by Breitbart News, Biden has received more money from employees of J.P. Morgan Chase, Bank of America, Morgan Stanley and Goldman Sachs than Trump has.

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Employees from the four firms donated a total of $508,259 to Biden’s campaign, the outlet reported, citing data from the Center for Responsive Politics.

Trump received a total of $96,582 from the same firms.

During a speech in Philadelphia on Tuesday, Biden said that the country wasn’t built by Wall Street.

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“If it wasn’t clear before, it’s clear now. This country wasn’t built by Wall Street bankers and CEOs,” he said, according to a transcript of his remarks.

“It was built by America’s great middle class — by our essential workers.”

His message on Tuesday echoes previous comments he has made on the topic.

“Wall Street are not bad folks, but they didn’t build this country,” Biden said at a fundraiser last month hosted by Comcast Corporation executive David Cohen, according to Bloomberg.

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“The middle class built this country, ordinary women and men capable of doing extraordinary things, that’s who I believe in, that’s why I’m in this race.”

Wall Street insiders have begun vying for spots in Biden’s cabinet if he were to win the 2020 presidential election, according to Bloomberg’s report.

One top Wall Street executive anonymously told Bloomberg he is hoping for a position in the Defense Department.

In the final Democratic presidential debate, Vermont Sen. Bernie Sanders called Biden out for accepting donations from Wall Street donors, the New York Post reported.

“You need to take on Wall Street. You need to take on the drug companies and the insurance companies and the fossil fuel industry,” Sanders said.

“You don’t take campaign contributions from them. You take them on and create an economy that works for all.”

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Erin Coates was an editor for The Western Journal for over two years before becoming a news writer. A University of Oregon graduate, Erin has conducted research in data journalism and contributed to various publications as a writer and editor.
Erin Coates was an editor for The Western Journal for over two years before becoming a news writer. She grew up in San Diego, California, proceeding to attend the University of Oregon and graduate with honors holding a degree in journalism. During her time in Oregon, Erin was an associate editor for Ethos Magazine and a freelance writer for Eugene Magazine. She has conducted research in data journalism, which has been published in the book “Data Journalism: Past, Present and Future.” Erin is an avid runner with a heart for encouraging young girls and has served as a coach for the organization Girls on the Run. As a writer and editor, Erin strives to promote social dialogue and tell the story of those around her.
Tucson, Arizona
Graduated with Honors
Bachelor of Arts in Journalism, University of Oregon
Books Written
Contributor for Data Journalism: Past, Present and Future
Prescott, Arizona
Languages Spoken
English, French
Topics of Expertise
Politics, Health, Entertainment, Faith