Kreibich Raises Nearly $10,000 Through Wall Street Connections

Congressional primary challenger Arati Kreibich has made an issue of Wall Street relations in her bid to win the endorsement of extreme left politician such as Sen. Bernie Sanders as one of her calling cards in her campaign.   

But federal election records tell another story: Kreibich is tapping into the same sources that she decries to fund her campaign. Filing records show the Glen Rock councilwoman’s campaign has received nearly $10,000 from donors affiliated with financial service companies, the same ones Kreibich has derided in her campaign. 

Kreibich has made Rep. Josh Gottheimer’s work with financial service companies a central issue in the Democratic primary for New Jersey’s 5th District. In a tweet on June 10, she claimed  Gottheimer “chose to fight for his Wall St. donors” instead of residents in North Jersey. 

Campaign Promises

The challenger further attacked the two-term congressman in a recent tweet for taking money from financial institutions in a fundraising campaign plea and has repeatedly promised not to take “big checks from Wall Street.” 

A review of Kreibich campaign contributions as of March 31 available at the Federal Election Commission (FEC) website found the progressive candidate received $9,060 from 11 individuals who have ties to Wall Street. 

The most recent FEC filing include max contributions of $2,800 were made by people affiliated with the hedge fund SRS and Bank of Baruda as well as donations from individuals connected to hedge fund Zimmer Partners, venture capital companies Spark Capital and Quarry, reverse mortgage firm AAG, and major financial institutions such as Bank of America, AIG, UBS and JP Morgan Chase.   

Money on Hand

In FEC filing as of March 31, Gottheimer had just under $7.9 million on hand for his reelection campaign while his Democratic challenger had approximately $134,000.

Kreibich, who identifies herself as a “proud progressive,” has run a liberal-issued based campaign in the predominantly conservative-based rural district, pushing issues such as the Green New Deal and Medicare for All. 

The Cook Political Report rates the 5th a +3 Republician for voters in the district made up of voters from Bergen, Passaic, Warren and Sussex counties. The 5th congressional district was in the hands of Republicans for 84 years before Gottheimer won the seat from Scott Garrett in 2017. 

National Endorsements

Besides earning the backing of North Jersey colleagues Rep. Mikie Sherrill and Sen. Cory Booker, Gottheimer has received endorsements of House leaders Speaker of the House Nancy Pelosi and Democratic Conference Chairman Rep. Hakeem Jeffries. 

The only national backing Kreibich has received is from Sanders and Rep. Ayanna Pressley, a Squad member who is holding a virtual for the challenger on June 17.

12 comments

  1. This looks to me to be written by a Josh Gottheimer supporter. It’s bad news because it “itimates” but does not give legitimate facts. It also alludes to the “class” of supporters Josh has vs Arati. You know what – she might and I hope, will win because he’s a republican in disguise and takes his orders from Trump and Netanyahu vs the ordinary working people of New Jersey. Josh is a smart politician…Arati is a smart representative for the people.

    1. The article quotes figures from the FEC report. How can you say there are no legitimate facts. Josh has been endorsed by Sherril , Pelosi and a host of others. Josh has done much for CD5. If, by some miracle she wins the democratic lines will assure the election of her Republican opponent.

  2. The reference to Bernie Sanders and other progressives as “extreme left politicians” is highly biased and sounds like something that would be printed in a campaign brochure rather than a newspaper.

  3. Whether we like it or not, it will be moderate Democrats that will ultimately win general elections. I truly believe that once we have won Democratic majorities in both chambers of congress as well as the White House, only then will we have the luxury to parse our differences. And yes, it hurts to acknowledge that truth, but true it is. (Or would you rather have Scott Garrett or his political spawn back in that seat?)

  4. This article is very biased and there have been previous articles about Gottheimer that don’t criticize him for his ties to Wall Street and the military industrial complex. If these types of articles don’t stop soon, I will unsubscribe.

  5. This “story” reads like it was planted by the Gottheimer campaign and smacks of desperation. 11 people (not PACs) who work for Wall Street firms donated a total of $9,060 to the Kreibich campaign. This is somehow a scandal and proves she’s a hypocrite???? Please. To the contrary It just seems to prove that (1) she is true to her word that she is not taking Wall Street/Big Business or other PAC money, and (2) Wall Street seems to be part of the problem because only 11 people in that whole community were willing to step up and contribute to a progressive campaign. Hey James, how about a story about how much money Josh has taken from Wall Street? That sounds like a good scandal story for you.

  6. Arati Kreibich has earned a national endorsement from Indivisible – powered by the people, for the people.

  7. One of these don0rs was her mother. Can’t mothers give to their daughters campaigns. No comparison between her and the man who keeps insulin prices high to please his donors. Ridiculous

  8. Misleading article; the donors are private citizens from Bergen county who happen to be professionals. Gottheimer has donations coming directly from the funds.

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