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Cooperman Assails Warren Over Campaign Ad: Campaign Update

Biden Wins Endorsement of Ohio Congressman Ryan: Campaign Update

(Bloomberg) -- The billionaire Leon Cooperman on Wednesday fired back at Elizabeth Warren in a profanity-laced tirade after she attacked him in a new campaign ad.

Warren released the commercial promoting her signature wealth tax on YouTube. It features four billionaires criticizing her, including investor Cooperman, who is seen in a clip assailing her “vilification of billionaires” while the words “charged with insider trading” are superimposed on his face.

In an interview with CNBC, Cooperman responded: “She’s disgraceful. I gave away more in the year than she has in her whole f---ing lifetime.” He also said he won the insider trading case. Cooperman and his firm Omega Advisors settled with the Securities and Exchange Commission in 2017, agreeing to pay nearly $5 million, including a $1.8 million penalty for insider trading violations, according to a statement from the SEC.

In October, Cooperman told Politico that while he believes in progressive taxation, he has fundamental disagreements with Warren’s approach. She tweeted on Oct. 23 that Cooperman should “pitch in a bit more” so that others have a chance at the American dream, a theme she uses in her new ad. Cooperman responded Oct. 31 with an open letter to Warren in which he detailed his philanthropic efforts and those of other billionaires while raising objections to her proposed wealth tax.

Warren’s ad will appear on CNBC beginning Thursday.

Sanders Doubles Campaign Staff in California (2:32 p.m.)

Bernie Sanders announced Wednesday that he is nearly doubling his campaign staff in California, where hundreds of delegates will be up for grabs on March 3.

The campaign said it will have 40 people on the payroll in California and will open its fifth office in the state on Thursday in San Francisco.

“The Bay Area has the highest number of Bernie Sanders volunteers of any city in this country: our supporters are ready to get out the vote throughout the state of California,” Jane Kim, Sanders’ California political director said in a statement.

California moved up its primary this year to join Super Tuesday, the more than a dozen states that hold primaries. The heavy investment in the state could indicate that the Sanders campaign is expecting the race to continue to be heavily contested after the first four early states. California will send 495 voting delegates to the Democratic National Convention next year, nearly twice as many as any other state.

The staff growth also comes ahead of Sanders’ California swing this week, which will include stops in Fresno and Los Angeles. Sanders will also join most of the Democratic candidates in Long Beach on Saturday at a forum hosted by the California Democratic Party and Unvision. -- Tyler Pager

Poll Shows Trump Losing to Democrats in Georgia (10:48 a.m.)

President Donald Trump fares poorly against Joe Biden and other contenders in Georgia, according to a poll released Wednesday by the Atlanta Journal-Constitution and the University of Georgia’s School of Public and International Affairs.

In a general-election matchup, Biden beats Trump 51% to 43%. Other top 2020 contenders led Trump by smaller margins. Bernie Sanders had a 48% to 44% advantage and Elizabeth Warren bested him 47% to 44%. Pete Buttigieg led over Trump 46% to 43% and Kamala Harris nearly tied with the president, leading 45% to 44%. The poll has a margin of error of plus or minus 3 percentage points and was conducted Oct. 30-Nov. 8.

Georgia has been viewed by both parties to be competitive state in next year’s election. Regardless of who the Democratic nominee is, the poll found Trump to be net unfavorable in the state: 54% of Georgia voters disapprove of his record compared to 44% who approve. Independents largely sided with Democrats on Trump’s performance. A majority support the impeachment inquiry and 60% of independents disapprove of the president’s job. -- Emma Kinery

Biden Endorsed by Ohio Congressman Tim Ryan (7:21 a.m.)

Representative Tim Ryan, the Ohio Democrat who dropped out of the presidential race last month, has endorsed Joe Biden for president.

“I know that Joe will be a voice for the many who are being left behind,” Ryan said in a statement released by the Biden campaign. “Joe knows that working communities built America, and I know that Joe will go to bat for them.”

Ryan ended his own presidential campaign after polling less than 1% and failing to meet criteria for the September and October debates. He sought to position himself as a moderate alternative to President Donald Trump and promised to champion working-class Americans.

His district, which includes Youngstown, voted for Hillary Clinton in 2016.

Ryan said Wednesday on MSNBC that the 2020 election is about “stability and healing” and he predicted Biden could win against Trump. “That stability, while not as fancy, flashy, is going to be what people will come around to,” Ryan said.

COMING UP

The major Democratic candidates -- including Biden, Warren, Sanders and Buttigieg -- are scheduled to appear Nov. 17 at the Nevada Democratic Party’s First in the West dinner, a major event that previously has drawn thousands to hear from presidential hopefuls.

Ten candidates have qualified for the fifth Democratic debate, on Nov. 20 in Atlanta: Biden, Warren, Sanders, Buttigieg, Kamala Harris, Amy Klobuchar, Andrew Yang, Tulsi Gabbard, Cory Booker and Tom Steyer.

--With assistance from Caitlin Webber, Emma Kinery and Tyler Pager.

To contact the reporter on this story: Bill Allison in Washington DC at ballison14@bloomberg.net

To contact the editors responsible for this story: Wendy Benjaminson at wbenjaminson@bloomberg.net, John Harney, Max Berley

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