“With Trump you have what is a fairly divisive campaign and you have the potential of unnecessarily offending a whole bunch of people if you show up there in a prominent way,” said Matt McDonald, a partner at consulting firm Hamilton Place Strategies, which does business with some of the nation’s biggest banks. “On top of that, a lot of the people that you might want to get in front of for one reason or another are not going to be there.”There have to be plenty of places other than Cleveland where influence can be discreetly traded. What's interesting, though, are the multiple responses the rent-seekers have to the Democrat convention, where, no doubt, the Clinton Foundation and the Combine will be hard at work.
McDonald cited the long roster of senior Republican lawmakers skipping the convention as one major reason financial executives don’t feel the need to raise the flag in Cleveland.
The convention boycott is not entirely limited to Trump.Yes, and Monica Lewinsky was on the way to order a pizza.
JPMorgan, for instance, is also not assisting with the Democratic National Convention in Philadelphia. The bank this year decided to make philanthropic contributions to each city instead. Goldman will also play no formal role in Philadelphia.
And the Bernie Sanders-influenced, leftward tilt of the Democratic Party and its platform is not exactly a welcome mat for big donors. But Clinton is hoovering up Wall Street cash as bankers hedge against the risks of a Trump presidency. Clinton and groups supporting her campaign raised $32 million from the securities and investment industry through June to virtually nothing for Trump.
And Philadelphia is likely to be friendlier terrain for bank lobbyists and industry executives hoping to play roles in a Clinton White House. “I’m skipping Cleveland but going to Philly,” the senior lobbyist from the large bank said. “But that’s partly just because Philly is on the way to visit my kids at camp.”