Send a Tweet
Most Popular Choices
Share on Facebook 6 Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds   

After Biden's Sharp Decline, Investors Are Reassessing Other Blue Chips

By       (Page 1 of 1 pages)     (# of views)   2 comments
Author 38935
Message Norman Solomon
Become a Fan
  (22 fans)
- Advertisement -


Democratic Debate: Kamala Harris Blasts Joe Biden Over Busing Stance | NBC New York Sen. Kamala Harris of California blasts former Vice President Joe Biden for his previously held opinions on busing in schools. Debate night No. 2 marks the first ...
(Image by YouTube, Channel: NBC New York)
  Details   DMCA

Investors are pondering where to put their money this week after the sudden decline in the assessed value of presidential candidate Joe Biden.

On Wall Street and in other corporate quarters where financiers were heavily invested in Biden, hopes have eroded in recent days amid reduced investor confidence. Some prominent donors began to openly question the wisdom of devoting more capital to the national marketing campaign for the former vice president.

- Advertisement -

After the leading blue chip closed sharply lower at the end of last week, even declaring "my time is up," many top investors felt overexposed and looked for shelter. Gathering new topline data and considering several prospectuses that had been previously submitted, investors are now reassessing assets and liabilities as well as potential growth in market share during the next quarter and beyond.

Venture capitalists, hedge fund managers, powerful CEOs and other wealthy individuals -- sensing a political emergency that may require swift and decisive action -- are moving to widen financing spigots for Kamala Harris. With contingency planning, there is elevated interest in Pete Buttigieg. One previously hot startup, Beto O'Rourke, is now considered to be too underperforming to warrant reinvestment.

The overarching goals are to quickly shore up capitalization of aligned political products and to implement sustained brand enhancement. While great appreciation remains for Biden's nearly five decades of massive financial benefits to investors, some have concluded that he is now unreliable in view of current political turbulence.

- Advertisement -

Yet Biden is hardly in penny-stock territory. Many rich investors remain bullish on the former vice president. Politico reported Sunday that "sources say Biden walked away with a $1 million haul after two fund-raisers in San Francisco alone this weekend." One of those gatherings drew about 200 wealthy guests to the backyard of a former Twitter vice president for global media, Katie Jacobs Stanton.

But an erstwhile Biden fundraiser, Tom McInerney, didn't show up at the Stanton poolside event, even though he was listed on the invitation. McInerney, who was a member of Biden's national finance committee, said he notified the Biden campaign on June 20 that he would no longer fundraise for it, citing the candidate's recent fond comments about segregationist senators. (Actually, Biden had been on the recordfor many years with such warm reminiscences. And in a report first published on April 11, CNN had exposed Biden's letters to racist senators in 1977 and 1978, seeking support for his legislation against school busing for desegregation.)

 

- Advertisement -

Must Read 1   Well Said 1   Funny 1  
Rate It | View Ratings

Norman Solomon Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Norman Solomon is cofounder and national coordinator of RootsAction.org. He was a Bernie Sanders delegate from California to the 2016 Democratic National Convention and is currently a coordinator of the relaunched Bernie Delegates Network. Solomon (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Growing Campaign to Revoke Obama's Nobel Peace Prize

Clinton's Transition Team: A Corporate Presidency Foretold

Is MSNBC Now the Most Dangerous Warmonger Network?

Obama's Escalating War on Freedom of the Press

Obama's Speech, Translated into Candor

The Long Road to Impeaching Trump Just Got Shorter

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

2 people are discussing this page, with 2 comments


Jim Arnold

Become a Fan
Author 6322

(Member since Jun 4, 2007), 27 fans, 33 articles, 3924 comments, 6 diaries
Facebook page url on login Profile not filled in Twitter page url on login Profile not filled in Linkedin page url on login Profile not filled in Instagram page url on login Profile not filled in


Add this Page to Facebook! Submit to Twitter Share on LinkedIn Submit to Reddit


  New Content

Bearishly clever!

Submitted on Monday, Jul 1, 2019 at 2:36:20 PM

Author 0
Add New Comment
Share Comment
Reply To This   Recommend  (0+)
Help
 

Phat Khat

Become a Fan
Author 94616

(Member since Jul 15, 2014), 4 fans, 386 comments
Not paid member and Facebook page url on login Profile not filled in Not paid member and Twitter page url on login Profile not filled in Not paid member and Linkedin page url on login Profile not filled in Not paid member and Instagram page url on login Profile not filled in


Add this Page to Facebook! Submit to Twitter Share on LinkedIn Submit to Reddit


  New Content

This is some of the best satire I've read in a long while! Bravo!

Submitted on Monday, Jul 1, 2019 at 5:03:31 PM

Author 0
Add New Comment
Share Comment
Reply To This   Recommend  (0+)
Help
 

 
Want to post your own comment on this Article? Post Comment