Democratic presidential candidate Martin O’Malley is deeply unliked on Wall Street, reports Charles Gasparino of Fox Business.
“Martin O’Malley is now like, I would say persona non grata, public enemy number one in in the halls of Goldman Sachs, in the halls of Black Rock, the big money management firm. All throughout Wall Street right now. What he said Saturday, and FOX News picked it up, he basically borrowed a page from one of the columns that I wrote about how Wall Street is fine with either Hillary Clinton or Jeb Bush they think both of those candidates would be very well for their bottom line. He picked that up in a way that the Wall Street was not expecting and ran with it, put it in his speech that said he was going to run for president, run for a Democratic nomination, and right now people on Wall Street are talking about Martin O’Malley.
“Now does he have a chance to win? I’m not a political guy, it would seem like odds are low based on everything that I know. You know, money wise it is gonna be very difficult for him to compete against the Clinton machine. But I’m telling you it is one thing when you talk to Democrats, and there are a lot of liberal Democrats also on Wall Street and in New York City, I live in New York City. One thing that resonates with them, they don’t like the notion that a big bank — that big bankers like Lloyd Blankfein at Goldman Sachs, like Larry Fink at Black Rock, are going to anoint a president. They despise that. That resonates really strongly inside the core constituency of the Democratic Party, which is the progressive constituency. And…what they’re really worried about is not that he’s going to win. It’s that he’s going to force her so far to the left with that resonating message that she — doesn’t do some of the things they want her to do like water down Dodd-Frank. They really think that if she gets in there, that if Hillary Clinton gets in there, that Dodd-Frank will be watered down to the point where they can do proprietary trading using their own capital to trade which is outlawed right now. And a various aspects of Dodd-Frank will be freed up so the banks can go back to making a lot of money, and not that they don’t make a lot of money now, but even more money, Clinton-era money. And he’s going to raise that issue with them. The question is, does he force her to do something really outrageous like call for a break-up of the banks? I mean I wonder if she goes that far.”
