Alexandria Ocasio-Cortéz on her primary victory: "Money can't buy a movement"
The young congresswoman won an overwhelming victory over a Wall Street-backed opponent.
The progressive wave in the country is definitely an unstoppable phenomenon.
After Congress was radically transformed after the 2018 mid-term elections –where, among young people, immigrants and a large number of women the country began to feel truly represented– this year's congressional primaries seem to indicate the country knows this is the way forward.
And the best example of this is the record of Alexandria Ocasio-Cortéz. Having beaten incumbent Joe Crowley to the seat of representative of New York's 14th district, AOC has earned the trust of many and the contempt of some.
Among them, the financial market and its entourage, who have invested thousands of dollars in trying to defeat her this year, for fear that the congresswoman's progressive proposals will actually reverse the economic system that favors only the 1%.
Wall Street CEOs, from Goldman Sachs to Blackstone, poured in millions to defeat our grassroots campaign tonight.
But their money couldn’t buy a movement.
Thank you #NY14, and every person who pitched in for tonight’s victory.
Here’s to speaking truth to power. pic.twitter.com/g9aRV3Cu1B
— Alexandria Ocasio-Cortez (@AOC) June 24, 2020
“Wall Street CEOs, from Goldman Sachs to Blackstone, poured in millions to defeat our grassroots campaign tonight,” wrote AOC after her victory over Michelle Caruso-Cabrera, a former CNBC international correspondent and a former Republican, “But their money couldn't buy a movement.”
AOC took 72.6% of the votes counted Tuesday night, and raised $10.5 million in individual donations, while Caruso-Cabrera, who had the support of major Wall Street investors, raised only $2 million.
According to the Washington Post, Caruso-Cabrera raised $23,850 from employees of the nation's largest banks, including $5,600 from Goldman Sachs CEO David Solomon, according to Federal Election Commission records.
She also raised another $16,800 from six executives of private equity giant Blackstone Group, including CEO Steve Schwarzman.
And "a parade of top Wall Street investors" also donated the maximum allowed to Caruso-Cabrera, according to the Post.
Among them are hedge fund billionaires Christopher Flowers; Paul Tudor Jones of Tudor Investment; John Paulson & Co. of Paulson; and Nelson Peltz and Peter May of Trian Fund Management. The list goes on, as he also collected checks from Interactive Brokers founder and billionaire Thomas Peterffy; Crestview Partners CEO Barry Volpert; and Key Square Group founder Scott Bessent.
Several of her sponsors were traditional Republican Party donors: TD Ameritrade founder Joe Ricketts, Elliott Management executive and former Bush administration official Dan Senor; former Bush administration economist Larry Lindsey; Home Depot founder and billionaire investor Ken Langone; Gristedes Foods billionaire CEO John Catsimatidis; and billionaire investor Stanley Druckenmiller. (Druckenmiller also contributed $25,000 to a super PAC called Fight for Our Communities, which spent $28,000 on digital ads and direct mail aimed at Ocasio-Cortez; Caruso-Cabrera's husband, Stephen Dizard, managing partner of the investment firm Wood Capital Partners, was the group's largest donor, contributing $30,000, according to FEC records.)
But none of that was enough.
In a video statement to her supporters, AOC said: “There is no price tag for having people who are animated by the courage of their convictions and by a desire for a better world.”