Sep 20, 2019

Wall Street is scared of Elizabeth Warren

Illustration: Sarah Grillo/Axios

Wall Street's fear of Elizabeth Warren puts its many never-Trumpers in an electoral pickle.

The big picture: Warren regularly aims her ire at professional financiers, whereas progressive rival Bernie Sanders is typically more generic in his "millionaires and billionaires" rhetoric.

  • Sources I spoke with are split on the depth of Warren's actual knowledge of financial markets. Some say she knows more than almost anyone else in D.C., while others say she knows just enough to be dangerous.

What they're saying: Warren worries were a persistent theme on the sidelines of a CNBC conference yesterday.

  • CNBC's Jim Cramer said earlier that the message he hears from Wall Street about Warren is that "she's got to be stopped."
  • Steve Rattner, the onetime private equity exec and Obama car czar, recently told MSNBC that his fellow Democratic donors have "enormous nervousness" about Warren.
  • Fox Business Network's Stuart Varney last week said: "Warren would force all big companies to take a lot of their profit away from shareholders. And it would be given to the workforce, the community, customers, the local and global environment, and community and societal factors (whatever that is)."

Worth noting:Assume Varney is also aghast at the 181 big company and Wall Street CEOs who signed onto the Business Roundtable's new mission statement.

The bottom line: This hand-wringing will intensify if Warren's polling momentum persists, but Wall Street ultimately will try figuring out how to best work with a possible Warren White House, rather than against it. After all, that's what it's largely done with Trump.

Go deeper: Elizabeth Warren's wealth tax could have slashed billionaires' fortunes

Go deeper

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

There are no COVID-19 patients in hospital in New Zealand, which reported just 21 active cases after days of zero new infections. A top NZ health official said Tuesday he's "confident we have broken the chain of domestic transmission."

By the numbers: Almost 5.5 million people have tested positive for the novel coronavirus as of Tuesday, and more than 2.2 million have recovered. The U.S. has reported the most cases in the world (over 1.6 million from 14.9 million tests).

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

Coronavirus antibody tests are still relatively unreliable, and it's unclear if people who get the virus are immune to getting it again, the Centers for Disease Control and Prevention cautioned on Tuesday.

By the numbers: More than 98,900 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 384,900 Americans have recovered and more than 14.9 million tests have been conducted.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 5,588,299 — Total deaths: 350,417 — Total recoveries — 2,286,827Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 1,680,625 — Total deaths: 98,902 — Total recoveries: 384,902 — Total tested: 14,907,041Map.
  3. Federal response: DOJ investigates meatpacking industry over soaring beef pricesMike Pence's press secretary returns to work.
  4. Congress: House Republicans to sue Nancy Pelosi in effort to block proxy voting.
  5. Business: How the new workplace could leave parents behind.
  6. Tech: Twitter fact-checks Trump's tweets about mail-in voting for first timeGoogle to open offices July 6 for 10% of workers.
  7. Public health: Coronavirus antibodies could give "short-term immunity," CDC says, but more data is neededCDC releases guidance on when you can be around others after contracting the virus.
  8. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 1 hour ago - Politics & Policy