Wall Street Is About to Go After Donald Trump Big Time

March 3, 2016, 4:39 PM UTC
Photograph by Ethan Miller/ Getty Images

Watch out Donald, Wall Street is gunning for you.

It’s looking increasingly unlikely that any of Trumps’ rivals can mount enough support to stop his winning the Republican nomination for president, but that’s not stopping some of Wall Street’s wealthiest tycoons from spending millions to thwart Trump.

According to a report Thursday in Politico, the newly formed Our Principles PAC—funded with an initial $3 million donation from Marlene Ricketts, wife of billionaire T.D. Ameritrade founder Joe Ricketts—will begin launching television ads against Donald Trump in the coming days.

In addition, the group held a conference call on Tuesday to solicit further donations. Included on the call were Paul Singer, billionaire founder of hedge fund Elliott Management; Hewlett Packard President and CEO Meg Whitman; and Chicago Cubs co-owner Todd Ricketts, one of Joe and Marlene Ricketts’ three sons; and others, according to Politico. Politico also talked to one person close to the group who said that, “The money is not going to be a problem. We will raise what we need to do what we need to do.”

The group plans to air ads in states that will hold upcoming primaries like Florida and Michigan. Hope Hicks, a spokeswoman for the Trump campaign is skeptical that the effort will work. “This is yet another attempt by the establishment elites and dark money that control the weak politicians to maintain control of our broken and corrupt system. Mr. Trump will continue to stand for the people and the issues they care about,” she told Politico.

And some on Wall Street have said that Trump would be good for the market and the economy.

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