Wall Street is in a panic at the thought of a President Bernie Sanders, claims Stephen Schwarzman of the private equity firm Blackstone. In an article in the Wall Street Journal he blamed recent global financial trauma on the “market’s fear” that Sanders could be elected. Schwarzman, who has been openly critical of President Obama’s proposals to end the “carried interest” tax, leads the effort to privatize Social Security and has a history of incendiary rhetoric. For example, when an employee was killed at SeaWorld (Blackstone’s largest investment), Schwarzman claimed the veteran animal trainer broke multiple safety rules before she was pulled into a tank and killed by an orca.

What does Wall Street have against Sanders? For one, Social Security. Furthermore, experts say, decades of lording over the economy have allowed Wall Street to design policies that almost guarantee the failure of any financial regulation, which would protect the middle class.