Former Goldman Sachs President Harvey Schwartz contributed $100,000 to one of Joe Biden’s joint fundraising committees three weeks ago.
Schwartz’s name appears on a Federal Election Commission filing for donations to the “Biden Action Fund,” which raises money for Biden’s campaign, the Democratic National Committee, and state parties.
Schwartz retired from Goldman Sachs in 2018 after being its president for approximately a year. Prior to that role, he was Goldman’s chief financial officer.
According to data from the nonpartisan Center for Responsive Politics, Schwartz’s contribution to the 2020 Democratic nominee this month was the biggest political donation he has ever made. This is also one of the largest donations to the “Biden Action Fund” during the first two weeks of October. Schwartz declined to comment to CNBC when asked about the six-figure investment.
The donation is the latest example of big money coming from Wall Street to support Biden. While Biden has tried to play himself off as the people’s candidate, it is clear he is really the one profiting off the securities and investment industry. People in the financial industry have given well more than $50 million to back Biden, according to the Center for Responsive Politics, compared with some $10 million for President Donald Trump.
CNBC reported that going into the final two weeks of the election, Biden, the DNC, and their joint fundraising committees had more than $330 million on hand, while Trump, the Republican National Committee, and their joint fundraising committees had more than $220 million.
During the last presidential debate, President Trump slammed Joe Biden after the former vice president appeared to suggest Trump had been in contact with stock traders seeking to profit off the market’s collapse in the early days of the coronavirus pandemic.
“You’re the one that takes all the money from Wall Street, I don’t take it,” Trump fired back at Biden. “As president, and as somebody that knows most of those people, I could call the heads of Wall Street, the heads of every company in America — I would blow away every record, but I don’t want to do that, because it puts me in a bad position.”
Trump continued: “And then you bring up Wall Street? You shouldn’t be bringing up Wall Street, because you’re the one who takes money from Wall Street, not me.”
Indeed, Biden has taken far more donations from Wall Street than President Trump has. Yet the Democratic nominee continues to push a false narrative. During a CNN drive-in town hall last month Biden characterized his campaign as a righteous one for the working-class people of Scranton, Pennsylvania, against the affluent executives in Manhattan profiting off middle American labor.
Joe Biden characterizes his campaign as a campaign between Scranton and Park Avenue.
— CNN Politics (@CNNPolitics) September 18, 2020
Trump responded on Twitter, writing, “Joe Biden says this is a race between Scranton and Park Avenue. This is a race between Scranton and China. Joe Biden betrayed Scranton, and America, to China and foreign countries. I will always put America First!”
Joe Biden says this is a race between Scranton and Park Avenue. This is a race between Scranton and China. Joe Biden betrayed Scranton, and America, to China and foreign countries. I will always put America First!
— Donald J. Trump (@realDonaldTrump) September 18, 2020
It seems that in more ways than one, Trump’s tweet rings true. The recent bombshell New York Post articles exposed corruption in the Biden family when it was reported that Biden’s son, Hunter Biden, pursued business deals with one of China’s largest energy companies in an attempt to cash in “for me and my family.” One of Hunter Biden’s business partners even came forward last week to corroborate the legitimacy of new reporting that shows the former vice president stood to rake in millions from Chinese businessmen with his son as the conduit.