Earlier, we questioned the market's resilience in the face of a possible "hard left turn" in the politics of America, as Elizabeth Warren dominates the odds of getting the Democratic nomination...
This follows comments by billionaire hedge fund manager Leon Cooperman slamming Warren's policies, saying they were counter-productive and 'negative for capitalism'.
"Her policies are counter-productive, they're negative for capitalism...you don't make the poor people rich by making the rich people poor," Cooperman said.
And warning that...
"Right now, the market is assuming Donald Trump is reelected. If it looks like Elizabeth Warren or Bernie Sanders are credible opponents, the market will go down. They won't open the stock market if Elizabeth Warren is the next president."
Well, Mr. Cooperman has stepped up his rhetoric, echoing many on Wall Street (and even Main Street).
As Politico reports, when CNBC host Jim Cramer did a piece on money managers freaking out about Warren, the candidate grabbed the clip and tweeted above it: “I’m Elizabeth Warren and I approve this message.”
I'm Elizabeth Warren and I approve this message. https://t.co/2Ewkbm0ZwA— Elizabeth Warren (@ewarren) September 10, 2019
It’s led to fairly widespread frustration that Warren’s rise seems unstoppable.
“There’s really not a damn thing you can do about Warren. There is nothing,” said one prominent Wall Street hedge fund manager and Democratic bundler who is raising money for a Warren rival. “It’s the same thing Republicans went through with Trump. You look at her and think what she is going to do is going to be horrible for the country. But if you say anything about it you just make her stronger.”
But it was Cooperman that stepped out of the anonymous shadows to really go after Warren and her policies...
“What is wrong with billionaires? You can become a billionaire by developing products and services that people will pay for,”
“I believe in a progressive income tax and the rich paying more. But this is the fucking American dream she is shitting on.”
Of course, if Cooperman listened to fellow billionaire Mike Novogratz, he should "stop worrying so much about Elizabeth Warren."
“You’re not victims, you’re the richest people in the world,”
“How in God’s name do you feel like a victim?”