Wall Street’s game theory
Amid whispers of President Biden’s possible withdrawal from the presidential race, influential Democrats on Wall Street are contemplating their next steps over the holiday weekend.
Key figures like Larry Fink of BlackRock, Robert Rubin, Jon Gray of Blackstone, and others are engaged in discussions about whether to continue supporting Biden or call for his exit from the race.
While some in Hollywood have publicly urged Biden to step aside, Wall Street donors are treading more cautiously, emphasizing the importance of maintaining influence within the Democratic Party.
What Wall Street is saying: Executives are mulling over various scenarios, with concerns about timing and positioning if Biden were to withdraw. Some believe that a strategic exit could benefit the party and the overall race.
Biden’s resistance to pressure: Despite mounting calls for him to step down, Biden and his allies are holding firm, citing consistent support in swing states and strong opposition to Trump among top finance donors.
What’s next: The House Democratic caucus meeting on Tuesday could see further discussions on Biden’s candidacy.
