In the wake of the Jan. 6 attack, there were some prominent billionaires who kept their distance from Donald Trump, but that period has apparently come to an end. As Politico reported this week, many “high-dollar donors at banks, hedge funds and other financial firms” have re-embraced the presumptive Republican nominee, thanks in large part to his plans to cut taxes and weaken financial industry safeguards.
“You need a democracy to have effective capitalism,” Scaramucci said. “If you don’t, you get cronyism. You get oligarchy. You get crony capitalism. You get arbitrary and capricious administration to the law, which reduces people’s tendency to invest in your country.” It’s an important point. I realize there will be some — on Wall Street and off — who look at the 2024 presidential race and effectively say, “Democracy is all well and good, but I’m more concerned about my wallet.
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