Billionaire hedge-fund manager Leon Cooperman choked up on the air during a recent interview when he began talking about the damage the far left-wing Democrat Party is doing to the country.
Cooperman joined CNBC’s “Squawk Box” last week to talk about stocks, but soon dove into politics and revealed his worries that the Democrats are driving the country down the tubes.
“I’ve lived the American dream. I’m trying to convince people like Elizabeth Warren, Bernie Sanders and AOC, don’t move away from capitalism. Capitalism is the best system. I get choked up when I talk about it because basically my father came to America at the age of 12 as a plumber’s apprentice. No education. I went to public school in the Bronx, high school in the Bronx, college in the Bronx,” Cooperman said. “I started my career in Wall Street the day after I got my MBA from Columbia. I had no money. I couldn’t afford a vacation. I made a lot of money. I’m giving it all back.”
Cooperman struggled to hold back his tears.
“I’m concerned about the lefties. They don’t get it. What made me write the book is I have three terrific grandchildren, and I want them to understand the merits of capitalism, and I want them to be capitalists with a heart. I wanna see the system stay centrist. We have a very, very bad political system.”
The financier added that he thinks both Republicans and Democrats are “lacking.” He also said although it’s wishful thinking, he doesn’t expect President Joe Biden or former President Donald Trump to win the presidency.
Cooperman, though, was part of the problem in 2020. He admits he voted for communist agitator Joe Biden in 2020.