If you noticed, some of the biggest names in finance are starting to run away from their initial support of Kamala Harris.
It’s not that they’ve seen the light and are ready to embrace Donald Trump’s MAGA agenda.
Rather they’ve seen the poll numbers (they pay up for the real ones the public isn’t privy to) and they’re slowly coming to terms that the sometimes crass, often indicted Trump might just be winning this race against Harris for the White House.
And they’re scared.
That’s the assessment from my sources at top Wall Street firms who witnessed interesting 180s at two of the most prestigious banks: Goldman Sachs and JPMorgan, run by David Solomon and Jamie Dimon, respectively.
Both high-profile and globalist CEOs seemed to be cozying up to Harris not long after party apparatchiks booted the barely sentient Joe Biden from the top of the Democratic ticket.
Jumping the gun
Now they’re freaking out that they jumped the gun, allowing their progressive confirmation bias to get ahead of the better judgment that usually works well when deciphering market trends.
I’m sure they recoiled during the MAGA-fied RNC convention that featured non-woke speakers like Hulk Hogan, Kid Rock, UFC chief Dana White, and the Trumpettes.
They certainly are no fans of MAGA’s non-globalist edicts like using tariffs to craft favorable trade deals.
CEOs, I have found, are particularly sensitive to The Donald, his crass mannerism and populist agenda he promises for the next four years if elected.
They also thought they had a winner in vapid brat girl Harris, for reasons I really could never figure out.
“Money is coming in like crazy,” said one top Wall Street executive who sides with the Democrats.
And he’s right. Since kicking Biden to the curb, Harris raised $1 billion-plus, much of it from corporate types.
In early September, economists at Goldman took a premature victory lap.
The firm’s econ team came out with a report that said Harris’s ill-defined economic plans — musings about taxes on unrealized capital gains, price controls and God knows what else — would be better for economic growth because Trump wants to impose tariffs along with cutting taxes and regulations.
As I was first to report in The Post, Dimon then began telling his peeps that he’s open to serving in a Harris administration.
Reality began to set in not long after when the joy of the Harris campaign began to sour. Average Americans saw through her empty meanderings about how she might govern.
Suddenly, Trump’s poll numbers began to improve until what we have now: A dead heat.
Not making enemies
Solomon and Dimon woke up and realized they run highly regulated companies that might not fare too well if Harris flopped.
The last thing they need is for Trump to see them as a political enemy if he should end up as president.
Solomon was the first to put the old genie back in the bottle. He told CNBC the pro-Harris report came from an “independent analyst” and didn’t really represent a firm-wide view. (Goldman had no comment.)
Dimon, as I first reported, is now telling anyone who will listen he has no plans to join either a Harris or Trump White House. (A JPM flack says Dimon doesn’t fear retaliation and will help whoever is president).
OK, but if Trump continues to get traction in the polls, my prediction is Dimon and Solomon will start channeling their inner MAGA and tout tariffs as an effective negotiating tool.
