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Why Wall Street Loves Hillary
http://www.politico.com/magazine/story/2014/11/why-wall-street-loves-hillary-112782.htmlShe's trying to sound populist, but the banks are ready to shower her campaign with cash
n odd thing happened last month when, stumping just before the midterms, Hillary Clinton came in close proximity to the woman who has sometimes been described as the conscience of the Democratic Party. Speaking at the Park Plaza Hotel in Boston as she did her part to try to rescue the failing gubernatorial campaign of Martha Coakley in Massachusetts, Clinton paid deference to Senator Elizabeth Warren, the anti-Wall Street firebrand who has accused Clinton of pandering to the big banks, and who was sitting right there listening. I love watching Elizabeth give it to those who deserve it, Clinton said to cheers. But then, awkwardly, she appeared to try to out-Warren Warrenand perhaps build a bridge too far to the leftby uttering words she clearly did not believe: Dont let anyone tell you that its corporations and businesses that create jobs, Clinton said, erroneously echoing a meme Warren made famous during an August 2011 speech at a home in Andover, Massachusetts. You know that old theory, trickle-down economics? That has been tried, that has failed. It has failed rather spectacularly.
The right went wild. See? Hillary Clinton has finally shown her hand. After having sat out the financial crisis and all the economic turmoil that has followed in the past six yearsand with good reason, since for most of that time she was tending to the nations diplomacy as secretary of stateshe is proving to be an anti-Wall Street populist too, and as much a socialist as her former boss, President Obama.
But heres the strange thing: Down on Wall Street they dont believe it for a minute. While the finance industry does genuinely hate Warren, the big bankers love Clinton, and by and large they badly want her to be president. Many of the rich and powerful in the financial industryamong them, Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO James Gorman, Tom Nides, a powerful vice chairman at Morgan Stanley, and the heads of JPMorganChase and Bank of Americaconsider Clinton a pragmatic problem-solver not prone to populist rhetoric. To them, shes someone who gets the idea that we all benefit if Wall Street and American business thrive. What about her forays into fiery rhetoric? They dismiss it quickly as political maneuvers. None of them think she really means her populism.
Although Hillary Clinton has made no formal announcement of her candidacy, the consensus on Wall Street is that she is runningand running hardand that her national organization is quickly falling into place behind the scenes. That all makes her attractive. Wall Street, above all, loves a winner, especially one who is not likely to tamper too radically with its vast money pot.
n odd thing happened last month when, stumping just before the midterms, Hillary Clinton came in close proximity to the woman who has sometimes been described as the conscience of the Democratic Party. Speaking at the Park Plaza Hotel in Boston as she did her part to try to rescue the failing gubernatorial campaign of Martha Coakley in Massachusetts, Clinton paid deference to Senator Elizabeth Warren, the anti-Wall Street firebrand who has accused Clinton of pandering to the big banks, and who was sitting right there listening. I love watching Elizabeth give it to those who deserve it, Clinton said to cheers. But then, awkwardly, she appeared to try to out-Warren Warrenand perhaps build a bridge too far to the leftby uttering words she clearly did not believe: Dont let anyone tell you that its corporations and businesses that create jobs, Clinton said, erroneously echoing a meme Warren made famous during an August 2011 speech at a home in Andover, Massachusetts. You know that old theory, trickle-down economics? That has been tried, that has failed. It has failed rather spectacularly.
The right went wild. See? Hillary Clinton has finally shown her hand. After having sat out the financial crisis and all the economic turmoil that has followed in the past six yearsand with good reason, since for most of that time she was tending to the nations diplomacy as secretary of stateshe is proving to be an anti-Wall Street populist too, and as much a socialist as her former boss, President Obama.
But heres the strange thing: Down on Wall Street they dont believe it for a minute. While the finance industry does genuinely hate Warren, the big bankers love Clinton, and by and large they badly want her to be president. Many of the rich and powerful in the financial industryamong them, Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO James Gorman, Tom Nides, a powerful vice chairman at Morgan Stanley, and the heads of JPMorganChase and Bank of Americaconsider Clinton a pragmatic problem-solver not prone to populist rhetoric. To them, shes someone who gets the idea that we all benefit if Wall Street and American business thrive. What about her forays into fiery rhetoric? They dismiss it quickly as political maneuvers. None of them think she really means her populism.
Although Hillary Clinton has made no formal announcement of her candidacy, the consensus on Wall Street is that she is runningand running hardand that her national organization is quickly falling into place behind the scenes. That all makes her attractive. Wall Street, above all, loves a winner, especially one who is not likely to tamper too radically with its vast money pot.
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Why Wall Street Loves Hillary (Original Post)
antigop
Nov 2014
OP
rhett o rick
(55,981 posts)1. A vote for H. Clinton-Sachs is a vote against the 99%. nm
mylye2222
(2,992 posts)2. Both Clintons had already a huge corporatist baggage.
Bill while in WH protected the BCCI crooks.
In 2004 they more helped BushInc stay in than getting Kerry elected (despite their apparent support and financing)
.......
antigop
(12,778 posts)3. kick nt