Published: Sun, February 16, 2020
Markets | By Otis Pena

Sanders Will 'Ruin' US Economy, Ex-Goldman Sachs CEO Says

Sanders Will 'Ruin' US Economy, Ex-Goldman Sachs CEO Says

Blankfein argued that stock buybacks would allow investors to reinvest in "higher growth businesses that boost the economy and jobs", while Sanders said that spending money on them instead of increasing wages for workers just "increased the wealth of billionaires like [Blankfein]".

Former Goldman Sachs head Lloyd Blankfein and U.S. Treasury Secretary Steven Mnuchin both said that Democratic presidential candidate Bernie Sanders would destroy the U.S. economy if he wins.

For good measure, he suggested that Sanders was such a weak candidate, Russians seeking to throw the USA election would be wise to support him. "We're going to Nevada, we're going to SC and we're going to win those states as well", Sanders said, touting his "unprecedented grassroots movement".

It is not the first time that Sanders and Blankfein were drawn into an online spat.

Mnuchin, a Republican, is a former Goldman Sachs banker who led the bank's mortgage bond trading. The tweet quickly attracted thousands of comments from Mr. Sanders's supporters.

"That's how looks and sounds the panic from the elite wall street", wrote on Twitter, the campaign Manager Sanders Faiz Shakir.

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The opinion for the three-judge panel's unanimous decision was authored by Ronald Reagan appointee, Senior Judge David Sentelle . It is not clear if the federal government intends to appeal the ruling, which could eventually be heard in the U.S.

Sanders is a self-proclaimed Democratic-socialist and has vowed to take on Wall Street and wealthy corporations. "Hmm, I am shocked by that".

Senator Amy Klobuchar emerged as a surprise contender by taking third place, with Elizabeth Warren and Joe Biden finishing in fourth and fifth place.

Lloyd Blankfein is tweeting again.

Blankfein, during his 2006-2018 tenure as CEO of Goldman Sachs, reportedly contributed to Democratic Party candidates and supported Hillary Clinton in the 2016 presidential election.

With the presidential race just beginning, "To say that this one or that one is having an impact on the economy, it's a little bit early", Solomon said.

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