Various current and former Wall Street financiers, analysts, lobbyists, lawyers and political advisors with banking clients spoke to CNBC about how the industry is bracing for a possible Biden win.
The changes in tone and expectation – and, in some cases, preparation for a Biden presidency – represent an about-face for many executives who privately cheered on Trump's tax cuts.
The changes in tone and expectation – and, in some cases, preparation for a Biden presidency – represent an about-face for many executives who privately cheered on Trump's cuts in corporate and income taxes, along with his rollback of regulations. Many of them have traditionally projected more moderate leanings in public settings.
The preparation for a Biden presidency ranges from privately warning clients and affluent friends that their taxes will soon be going up, to veteran executives speaking to people linked to Biden out of hopes they can have access to the White House. Others are donating more to Biden's campaign. "Taxes across the board [are] definitely at the very top of [the] mind given Biden's improvements in polling," Hartley said.
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