What Does Wall Street Think of Trump’s Refusal to Concede?

Date: 2020-11-13 18:38:42

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Anyone who wants to understand why the most powerful person in the world is dragging out the election he lost won’t find many answers in history books. You’d be better off looking at this billionaire television personality’s career instead. There is the stuff of hubris, celebrity, ambition, and scandal here, but also something stranger. Donald Trump got in over his head again and again, and then refused to concede defeat until he found ways to claim his own kind of triumph.

“This is a man who has avoided consequence his entire life,” says his former attorney, Michael Cohen, who pleaded guilty in 2018 to crimes tied to his work for Trump. “Donald Trump will never admit that he lost.”

Think of Trump as a boxer who likes to swing his fists after the fight gets called against him: If he lands punches, he names himself the champ. It’s a rich kid’s version of what it means to persevere against the odds, and a tendency that terrifies some of the voters who rejected him on Nov. 3. It also dazzles his fans. Now, though, he’s not suing a lender or bickering with a condo association. He’s waging war against the spirit of U.S. democracy.
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