Hillary Clinton and Wall Street Speeches

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Hillary Clinton and Wall Street Speeches

Hillary and Bill gave many speeches to Wall Street firms, earning them millions of dollars.  Good for them!  That’s not a problem – that’s one using skills and talents to make money in the free market.  We shouldn’t hold that against her or foolishly think it impacts her dedication to passing Wall Street reform bills.  In fact, her Wall Street plan shows her at “her wonkish best,” seeking to address problems that actually contributed to the 2008 crisis and could prevent another (unlike Bernie’s, whose plan is designed to fundraise well).  The plan itself also should dispel all fears that Hillary is too pro-Wall Street to seek change.

She is in no way dependent on Wall Street.  Assume she becomes president and then wants to make money afterwards.  Do you think there will be any shortage of individuals, firms, or universities willing to pay her for a speech?  Any shortage of people wanting to buy her memoirs?  Of course not.  She would, in no way, rely on Wall Street to earn a post-presidency income.  In other words, she can – and will – push Wall Street reform because she depends not on them.

But if that’s not enough for you and you somehow think that giving speech greatly impact her ability to reign in Wall Street excesses…

  • Hillary said in a speech that Dodd-Frank, though unpopular on Wall Street needed to be enacted
  • She argued for working with Wall Street to strengthen the economy, because maybe – just maybe – a president shouldn’t seek to pin all economic blame on a single sector
  • President Obama, who signed and pushed for the Dodd-Frank bill, received millions in campaign contributions from Wall Street (by the way, if you believe in research and political science, you would know that no corporation expects to buy a politician)
  • At a speech in front of a Wall Street audience, Hillary outlined the need to end financial fraud and expand Dodd-Frank
  • It’s natural that Hillary would have connections to Wall Street – she represented New York in the Senate and Wall Street is a major employer and economic driver in the state
  • That she’s already given speeches to many other organizations (also for money, the free market is great!) dispels the notion that Wall Street owns her
  • “Americans who are doing business in every aspect of the economy want to know more about the world. I actually think it’s a good conversation to be having” – Hillary on her speeches.  This seems more than reasonable; it’s responsible as she wants to engage all economic forces, unlike Bernie who seeks to alienate and vilify Wall Street and all those who succeed in the economic system
  • Wall Street considers Hillary a pragmatic problem solver.  Is that really so bad?  That’s exactly what I want in a president – a bright, wonkish politicians able to navigate many interests and get things done in a responsible manner.  She knows how things work.  I’ll take that 100 times out of 100.  Do we want a president that alienates all industries and will espousing extreme rhetoric that’s not based in reality?  No, we don’t.

We want a president who gets things done and knows how to get things done.  That’s Hillary, not Bernie.  Bernie wants to play victim and pin all responsibility for all economic woes on two singular forces: Wall Street and “the billionaire class.”  It’s absurd rhetoric that plays well to populists but doesn’t address root causes.  He’s tied to extremism, not to solutions.  Hillary, the Democrats’ number 1 wonk, knows how to work with all parties to enact meaningful reform.  Her Wall Street plan promises vast changes to make the economy fairer.  But she also knows how to work with all interested parties to reach feasible reforms that check Wall Street without damaging the industry’s ability to create wealth and contribute to economic growth.  Hillary knows how to work with others to advance a goal.  Hillary knows how to pass reform and will do just that.


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