Takeaway: No Money, Mo' Problems, Clinton's Cash Cow; Peacemaker-in-Chief

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NO MONEY, MO’ PROBLEMS: Donald Trump’s finance team held its first official meeting amid concerns over the campaign’s lack of a finance team, infrastructure and coordination with the RNC with less than five months left to prepare for the general election. In most election cycles, fundraising for presidential campaigns starts 18 to 24 months out - and Trump will be at a disadvantage out of the gate given his continued controversies and general lack of enthusiasm among the Republican donor class leading many to question whether Trump can achieve his previously stated goal of raising $1 billion. Donors are disturbed with the threadbare nature of his campaign which continues to struggle in carrying out even the most basic of functions. He lacks pollsters, data and field expertise, a policy-writing shop, and a communications apparatus - and will soon find that the general election is a different animal than the primary.

CLINTON’S CASH COW: On the other hand, when it comes to fundraising, Hillary Clinton and the Democrats are running like a well-oiled machine. She’s spent well over $200 million, has a large campaign staff with seasoned veterans, and continues to pad her war chest every day. Additionally - with Clinton, well, being a Clinton - she enjoys a deep bench of supporters ready to fundraise, cut ads, hit the campaign trail, and utilize social media. When Bernie Sanders finally exits the race, she’ll look to tap into a deep reservoir of new (and smaller) donors padding her fundraising lead.

WARRENTED ENDORSEMENT: In what may be an audition for the prototypical running mate, Elizabeth Warren launched another blistering attack on Donald Trump, the Republican party, and calls for Wall Street reform. Warren has been suggested as  Clinton’s veep choice by none other than Minority Leader Harry Reid, despite his warning on choosing a senator from a state with a Republican governor. The case for Warren is clear - she’s an outspoken populist-progressive leader who would rally the supporters of Bernie Sanders to Clinton’s cause.

PEACEMAKER-IN-CHIEF: President Obama met privately with Sanders in the Oval Office to congratulate him for a well-run campaign and for the impact he and his message have had on the party and primary election. But, Obama did not tell Sanders to drop out and feels that Sanders has more than earned the right to make his own decision about his course of action recounting Clinton’s similar impasse in 2008.  Obama’s message was clear – it’s time for the Democrats to pull it together and unify around their nominee - and within hours threw his full support behind Clinton.

RYAN’S REVERSAL: Speaker Ryan announced that he will no longer be following his open amendment process and restricting contentious amendments on spending bills. The move comes after a poison pill amendment was attached to the energy and water bill, sinking the entire legislation. The “structured rule” process gives Democrats new ammunition as they continue their charge blaming Republicans for the lack of progress and inability to pass a budget while they control both the House and Senate.

BREXIT: SHOULD I STAY OR SHOULD I GO?: In case you missed it, here’s a recap of our call with Alexander Nicoll, a consulting member of the London-based think tank International Institute for Strategic Studies, who walked us through a seven point framework to contextualize the events leading up to the UK vote and what the outcome of the vote spells for the UK and EU.

DON KOHN REPLAY: Please email us today if you’d like a replay of our call with former Fed Vice Chairman Don Kohn yesterday.

NOTE:  We’re traveling this weekend and Capital Brief will resume on Tuesday.