… the whole thing is rigged. And the Democrats, and particularly the Bernie Sanders supporters, should understand, you're playing in a rigged game.
Michael Bloomberg, who really now you're seeing an oligarch come in here, an oligarch that has committed $2 billion not to make himself president, $2 billion just to defeat Donald Trump.
And here's the thing.
BARTIROMO: You don't think he wants to be president?
BANNON: I think he -- look, he knows he's not going to beat Donald Trump. He knows he's not going to win the nomination.
BARTIROMO: You said he wants to be something else, not...
BANNON: He's -- he's basically doing a leveraged buyout of the Democratic Party, is what he's doing.
He's a LBO (leveraged buy-out) of the Democratic Party to control the Democratic Party to select who their candidate is going to be and use his capital, OK, and organization and technology to defeat Trump.
And that's why this is very dangerous. Now you are seeing an oligarch actually step over, has no chance at all to actually defeat Trump as a presidential candidate, do something that's much more dangerous to this republic.
Forget the hundreds of millions of dollars spent on the “Mike will get it done” ads saturating the airwaves and the Super Bowl ad touting gun control. According to Bannon, with the addled and corrupt Biden faltering, Bloomberg is fighting a holding action to prevent Bernie Sanders from capturing the nomination and thus taking over the party and converting it into an explicitly socialist party. Win (unlikely) or lose, a Sanders candidacy would hand leadership of the party to Alexandria Ocasio-Cortez, who will be old enough for the presidency in the 2024 election. Bannon notes that she has become the face of the Sanders campaign in Iowa while he was tied up in the impeachment trial. She is an outright socialist intent on nationalizing the means of production and is therefore incompatible with Bloomberg’s intent to run the party and the country by financing its political campaigns and operating expenses with outlays that don’t strain his net worth but enable it to outspend the opposition
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