Goldman Sachs supports Bonnie Watson Coleman for Congress

Goldman Sachs supports Bonnie Watson Coleman in her primary for Congress against progressive Democratic challenger Lisa McCormick. Bonnie is a member of the U.S. House of Representatives who has worked in collaboration with Republican President Donald Trump to get things done for Wall Street.

According to federal financial disclosure documents, Congresswoman Bonnie Watson Coleman has received $5,500 in contributions from Goldman Sachs, a private investment bank that is among the richest financial firms on Wall Street.

This financial support from the Wall Street giant shows that Congresswoman Bonnie Watson Coleman takes a strong interest in protecting big business despite recent complaints about the unfair allocation of wealth in this country and Democratic political insiders raising money from corporate PACs.

Wall Street supports Congresswoman Bonnie Watson Coleman because she has consistently supported the kind of corporate welfare that makes it hard for global businesses to lose money.

She recently supported the CARES Act, legislation that created a $6 trillion slush fund controlled by President Donald Trump, distributed billions to corporations and put $1200 in the pockets of some Americans, even though millions of needy people are still waiting for their checks.

"Trump and Republicans in Congress promised to bail out the American people during this horrendous pandemic. Instead, they bailed out Wall St. and corporations, leaving crumbs for workers," said Professor Robert Reich, a former U.S. labor secretary. "It will go down as one of the biggest bait-and-switches in a long time."

During her political career, Bonnie Watson Coleman has collected more than $2 million from special interest PACs including Wall Street banks, military contractors and big pharmaceutical companies.

Anti-establishment challenger

The political establishment is working to make sure party loyalists vote in droves in July because Watson Coleman faces a primary challenge from progressive Lisa McCormick, who earned 38 percent of the vote in her challenge to U.S. Senator Bob Menendez two years ago.

Lisa McCormick does not take money from special interest PACs and she has said that she wants to radically upend our entire system of pay to play politics by outlawing campaign contributions that might influence politicians.

The challenger has shown no respect for the way things are in this country. She has invited people without government experience to run for public office, she led protests against banking practices and military adventures, and she has been known to participate in extremist groups like Moveon.org and Our Revolution.

"The 400 richest American families now pay a lower overall tax rate than ordinary working families," said McCormick, who has consistently called for tax increases on corporations and the more wealthy people in the country.

While Democratic voters who supported Bernie Sanders, Andrew Yang, Tulsi Gabbard or Elizabeth Warren may find McCormick's candidacy appealing, political insiders fear that she will lend strength to a small group of left wing members of Congress that is often called 'the Squad.'

The Squad currently consists of four women elected in the 2018 United States House of Representatives elections, Alexandria Ocasio-Cortez of New York, Ilhan Omar of Minnesota, Ayanna Pressley of Massachusetts, and Rashida Tlaib of Michigan.

On a number of controversial issues, the young progressive women have challenged the leadership of Speaker Nancy Pelosi, who has been a principle negotiator with President Donald Trump, along with Senate Minority Leader Chuck Schumer.

It is highly likely that McCormick would expand the influence of the Squad, in sharp contrast to the incumbent, who has shown disdain for the progressive movement, even while paying lip service to such issues as Medicare for All and the Green New Deal.

"Bonnie Watson Coleman scolded the Bernie Sanders delegates at the 2016 Democratic National Convention and then proceeded to walk out of the convention prior to when Bernie Sanders was due to speak," wrote Bertin Lefkovic, a veteran New Jersey liberal activist. "Yes, she votes better than any of the other establishment Democrats in New Jersey's congressional delegation, but has never been a leader on any issue."

The candidate who wins the Democratic nomination on July 7 –whether that is McCormick or the incumbent– is virtually assured of victory in November, since in 2016, Hillary Clinton won the 12th Congressional District by 33.2 points.

Most eligible registered Democrats will receive vote by mail ballots but citizens, who are unaffiliated or independent of a party, must submit an application in order to get a vote by mail ballot. All voting in the July 7 election will be done by mail.