With President Joe Biden’s current approval rating remaining low at 37%, Wall Street executives are privately hoping for another Democrat to challenge him in the 2024 nomination.
According to The Wall Street Journal, these corporate deal-makers don’t like Biden’s antitrust policies and are seeking other alternatives.
The senior wall street negotiator told the WSJ “Everybody is hoping for a miracle. Nobody wants Biden, and nobody wants Trump.”
Blair Effron, co-founder of Centerview Partners, Jonathan Gray (President of Blackstone) and financier Antonio Weiss will likely back Biden as the nominee; however, other Wall Street executives are considering longshots like JPMorgan Chase CEO Jamie Dimon and Ray McGuire, the Lazard president.
Dimon has been vocal about his interest in running against then-President Donald Trump in 2018 but he was worried about not winning against “the liberal side” of the party.
He recently said on May 22 that he wasn’t planning on leaving his role as CEO any time soon. McGuire is a former New York City mayoral candidate who ran against Mayor Eric Adams for the Democratic nomination in 2021 and has gained attention from Wall Street executives due to his progressive positions on taxation reform and economic inequality.
According to Real Clear Politics’ (RCP) average polls conducted between May 3 – May 22, Biden currently holds 59.3% support with Robert F Kennedy Jr. following at 16.8% and Marianne Williamson trailing behind at 6.8%.
Other Republicans have also entered into consideration such as conservative businessman Vivek Ramaswamy and Florida Gov Ron DeSantis who made an entrance into the growing GOP primary field last week according to WSJ reports.
Home Depot co-founder Ken Langone told WSJ that he once supported Donald Trump until Jan 6th but no longer supports him now – indicating a shift within Wall Street executive opinions with regards to their preference for future nominees from both parties..
Despite all these apprehensions surrounding President Joe Biden’s age & mental acuity should he win reelection by 2024, it looks like only time will tell if Wall Street will get its miracle or not.
