The financial sector is lining up behind Pete Buttigieg’s presidential campaign.
WASHINGTON — The financial sector, blamed by progressives for spawning the 2008 economic collapse, is lining up behind Pete Buttigieg’s presidential campaign.
. The Massachusetts Democrat's criticism of big banks during the economic collapse helped propel her political career and she repeatedly hit Buttigieg during Thursday's presidential debate for his ties to large donors.Buttigieg is making moves that suggest he's aware of the potential vulnerabilities. His campaign said Friday it has returned a $5,000 donation from one of Wall Street's most prominent lawyers, H. Rodgin Cohen.
Sullivan & Cromwell “essentially designed the bailouts on behalf of all the too-big-to-fail banks," said Kevin Connor, executive director of the Public Accountability Initiative, an organization that tracks corporate and big-money involvement in politics. Employees of the law firm have contributed more than $83,000 to Buttigieg's presidential campaign, according to the Center for Responsive Politics. At least 20 Sullivan & Cromwell partners have given to his campaign. Cohen and David Hariton are bundlers for Buttigieg, those who have raised at least $25,000 for his campaign.
Though employees of the law firm have contributed to nearly every major presidential candidate remaining in the race -- including Biden, Booker, Warren and a small amount to Bernie Sanders -- Buttigieg received more than any of his opponents. The firm's work on mergers in particular could raise concerns among voters in Iowa, where Buttigieg has staked much of his candidacy on a strong showing in the nation's first caucuses. Sullivan & Cromwell worked on one of the biggest agricultural company mergers in history in 2018 when drug and chemical company Bayer combined with agricultural giant Monsanto.
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