Under normal circumstances, you might think that Trump would find doors closed to him among the big-money folks on Wall Street after his trial ended with 34 guilty verdicts … yet the opposite is reported to be happening and his campaign is being inundated with big financial donations:
My quite strong suspicion is that Leticia James and Alvin Bragg have caused alarm by targeting business records and real estate valuations in corporate borrowing, things that everyone shares in finance, insurance, and real estate, for criminalization and destructive litigation. My bet is that capital is turning hard against lawfare, seeking to disincentivize and punish an attack on the basics of corporate business. People in business are horrified by a flamethrower of a prosecution over old business records.
So Bloomberg’s interpretation is that Wall Street is standing with Trump despite the verdict, but my bet is that Wall Street, Silicon Valley, and other business interests are turning against Democrats because of the verdict — because Democratic prosecutors in New York (and especially Manhattan), America’s financial capital, are doing things like turning seven year-old business record misdemeanors into a long list of Frankenstein felonies.
That interpretation makes capital’s support for Trump self-interested rather than morally outraged, though not over Bloomberg’s explanation of lower taxes, as people who keep business records turn against the party that bizarrely overcriminalizes the handling of business records when the target becomes politically unfashionable. If capital turns against the Democratic Party — if the ATM machine stops spitting out campaign funding — the moment becomes pretty significant, and Alvin Bragg becomes the dog who caught the car.
