It is never wise to mess with people who have that much power…
On Wednesday, Billionaire Leon Cooperman, an extremely successful businessman, attacked Democrat presidential candidate Elizabeth Warren over an ad that Warren had run that insulted him and made false insinuations about him, claiming that she was “disgraceful” and also that he has given “away more in the year than she has in her whole f***ing lifetime.”
CNBC’s Brian Schwartz was one of the first to comment on Warren’s new ad targeted at numerous billionaires: “The ad opens with Warren telling a campaign rally: ‘It is time for a wealth tax.’ The ad then plays clips of the aforementioned billionaires. The part featuring Cooperman notes that the Omega Advisors CEO was charged with insider trading.”
Cooperman responded to Warren saying, “In my opinion she represents the worst in politicians as she’s trying to demonize wealthy people because there are more poor people than wealthy people. As far as the accusations of insider trading, I won the case. She’s disgraceful. She doesn’t know who the f*** she’s tweeting. I gave away more in the year than she has in her whole f***ing lifetime.”
In 2017, Cooperman settled with the U.S. Securities and Exchange Commission, which said in a statement:
Hedge fund manager Leon G. Cooperman and his firm Omega Advisors have agreed to settle insider trading charges and beneficial ownership reporting violations by paying nearly $5 million and subjecting themselves to onsite monitoring by an independent compliance consultant with access to their electronic communications and trading records.
The settlement, subject to court approval, would conclude litigation that included a significant ruling in favor of the SEC after the agency filed its complaint against Cooperman and Omega in September 2016.
Many billionaires recently attacked Warren because of her extreme economic plans, which even former Obama administration counselor Steven Rattner alerted were “far more extreme than Bernie Sanders’ in terms of its impact on the American economy and the fundamental way in which we do our business here.”
Jamie Dimon, CEO of Chase Bank, said during a recent interview on CBS ‘ “60 Minutes” that it was a bad idea that Warren was vilifying rich individuals:
Lesley Stahl: So Elizabeth Warren said in Iowa the other day, “Our democracy has been hijacked by the rich and powerful,” and you jumped in and said this week about her that she was “vilifying successful people and having harsh words for Wall Street bankers.”
Jamie Dimon: What I was commenting on is that anything that vilifies people I just don’t like. I think, you know, most people are good, not all of ’em. I think you should vilify Nazis, but you shouldn’t vilify people who worked hard to accomplish things. And so my comment is, I think it’s American society – we’re just attacking each other all the time.
Lesley Stahl: She said that, “The system is working great for the wealthy and well-connected, and Jamie Dimon,” she brings you up, “doesn’t want that to change.”
Jamie Dimon: I’m not gonna comment on anyone in particular.
Lesley Stahl: But she’s commenting on you. You’ve become a target. Whether you wanna respond to it or not, you’re her target and you’re Alexandria Ocasio-Cortez’s target.
Jamie Dimon: I understand that a person in this seat is gonna be a target in this day and age of certain politicians and stuff like that. But the notion that I’m not a patriot or that some of these other folks aren’t pat–, that’s just dead wrong. So– you know, my view is let’s all working together. And I don’t mind if I– a few barbs are thrown my way by anybody.
Mark Cuban, owner of Dallas Mavericks, also slammed Warren with a series of tweets.
“She also knows there is a lack of equity in her plan as well,” Cuban said. “I’m fine with paying more taxes. I’ve said it for years on http://blogmaverick.com But the Senator is like every other candidate. She is selling shiny objects to divert attention from reality. Haven’t we had enough of that from @realDonaldTrump ?”
“The reality for @ewarren is that this is as much to divert attention from her income and net worth as anything else. Other than steyer she is the wealthiest of all the Dem Candidates,” Cuban continued. “By far.”
“To provide a frame of reference here is a timeline for The Affordable Care Act (Obamacare) http://affordablehealthca.com/timeline-obamacare/ …. And this is a far more contentious political environment than back then,” Cuban added. “Let’s be real. @ewarren probably is the smartest of all the candidates. Intellectually she knows she is misleading the public . That the chances of getting all the necessary line items she needs for M4All approved within 4 years are nearly impossible.”