Wall Street Shrugs Off Biden and Reaffirms Commitment to Saudi Monarchy

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Wall Street Shrugs Off Biden and Reaffirms Commitment to Saudi Monarchy
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Although Biden has openly threatened to reconsider the close ties between the United States and Saudi Arabia, the financial industry appears certain he’s not ready to put his money — or theirs — where his mouth is.

This month, President Biden has openly threatened to reconsider the close ties between the United States and Saudi Arabia, but the financial industry appears certain he’s not ready to put his money — or theirs — where his mouth is.

Top bankers to attend the gathering in Riyadh included JPMorgan CEO Jamie Dimon, Goldman Sachs CEO David Solomon and Blackstone Group CEO Stephen Schwarzman. The trio, whose firms collectively manage about $4.8 trillion in assets, spoke on the same panel at the so-called Future Investment Initiative.

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