Hillary Clinton won't rule out Wall St. Treasury Secretary

[think]

Hillary Clinton won't rule out Wall St. Treasury Secretary

by Heather Long @byHeatherLong
February 8, 2016: 2:54 PM ET

In contrast, Bernie Sanders vows that if he's elected president, no one from Goldman Sachs (GS) will work in his administration.

"You have to have a Treasury Secretary who understands the economy, the American economy and the global economy," Clinton said Sunday on NBC's "Meet the Press."

Clinton is under fire for her ties to Wall Street. Clinton has become a millionaire from giving numerous speeches to big banks and investment firms -- pocketing about $200,000 apiece.

When Clinton was pressed on whether she would appoint someone from Wall Street to be her Treasury Secretary, she refused to say no.

Read more:
http://money.cnn.com/2016/02/08/investing/hillary-clinton-wall-street/

[Wellstone ruled]

1. Her old Bud Larry Summers or Robert Rubin.

[think]

5. My guess is Gary Gensler, her chief economic adviser. He lobbied hard for the CFMA & put a loophole

in Dodd Frank that the banks are currently exploiting to offshore derivatives to avoid regulation.

Bold for emphasis added:

Vanishing Act
U.S. banks moved billions of dollars in trades beyond Washington’s reach

By Charles Levinson - Filed Aug. 21, 2015, 2 p.m. GMT

~Snip~
In 2009, soon after Gensler took the job, Congress was hashing out the Dodd-Frank bill. A powerful Republican congressman, Rep. Spencer Bachus of Alabama, put forth an amendment that would keep banks’ overseas operations outside the new rules. Alarmed, the Democratic co-sponsor of the bill, Rep. Barney Frank, asked Gensler to craft a counter-proposal.

Gensler and his staff tucked a 17-word insert into a 228-page amendment to the Dodd-Frank bill. The addition seemed to assure banks that the new derivatives rules wouldn’t apply to their overseas trading operations. Bachus backed off. But the insert was craftily worded to leave wiggle room. If those activities “have a direct and significant connection with activities in, or effect on, commerce of the United States,” then the rules would apply, Gensler’s addition read.

One year later, at a late 2010 meeting of the CFTC’s board, one of Gensler’s legal aides declared that the passage in fact gave the regulator worldwide reach over U.S. banks’ trading operations.

A coalition of 13 global banks banded together to fight the clause. They hired Edward J. Rosen, a derivatives lawyer with Cleary Gottlieb Steen & Hamilton, to lead the effort.

?v=562619050116

http://www.reuters.com/investigates/special-report/usa-swaps/

The Most Disingenuous Attack on Bernie Yet

~Snip~

Even if Bernie had a good reason to vote for that omnibus spending bill - like preventing a government shutdown - Sanders was angry that he been forced into deregulating Wall Street.

And so he struck back hard in 2008, when President-elect Obama picked former Treasury official and Goldmans Sachs bankster Gary Gensler to head up the Commodity Futures Trading Commission, or CFTC.

During his time at the Treasury, Gensler had pushed hard for Wall Street deregulation and even helped write the CFMA, something now-Senator Bernie Sanders found unacceptable. And so Bernie moved to block Gensler's nomination. Sanders explained his actions during an appearance on Democracy Now.

Although Sanders did succeed in blocking Gensler's nomination, the victory was short-lived: The hold was only temporary, and the Senate ended up approving Gensler as head of the CFTC on March 16, 2009. He held that post until 2014, when he was succeeded by Timothy Massad...

http://www.truth-out.org/opinion/item/34497-the-most-disingenuous-attack-on-bernie-yet

[GreatGazoo]

14. Larry Fink

BlackRock, which controlled $4.6 trillion worth of assets as of the end of last year, has ties to the Clintons that extend beyond Mallow. The firm’s founder Larry Fink has signaled his belief that a Clinton victory in 2016 could put him on the receiving end of a presidential appointment to become treasury secretary,

http://freebeacon.com/politics/hillary-clinton-goes-back-to-well-hits-up-financial-industry-for-fundraisers/

[thereismore]

2. They paid to play. Now they expect to play. nt

[think]

7. Yep. And she's already said no to Glass Steagall which would break up the too big to fail banks.

It's pretty obvious if a person is honest with themselves about it...

[Warren Stupidity]

3. Of course not. Who better to regulate the chickens than a fox?

[Octafish]

4. What would Goldman think of that?

Larry Summers: Goldman Sacked

By Greg Palast
Reader Supported News, September 16, 2013

Joseph Stiglitz couldn't believe his ears. Here they were in the White House, with President Bill Clinton asking the chiefs of the US Treasury for guidance on the life and death of America's economy, when the Deputy Secretary of the Treasury Larry Summers turns to his boss, Secretary Robert Rubin, and says, "What would Goldman think of that?"

Huh?

Then, at another meeting, Summers said it again: What would Goldman think?

A shocked Stiglitz, then Chairman of the President's Council of Economic Advisors, told me he'd turned to Summers, and asked if Summers thought it appropriate to decide US economic policy based on "what Goldman thought." As opposed to say, the facts, or say, the needs of the American public, you know, all that stuff that we heard in Cabinet meetings on The West Wing.

Summers looked at Stiglitz like Stiglitz was some kind of naive fool who'd read too many civics books.

CONTINUED...

http://www.gregpalast.com/larry-summers-goldman-sacked/

[think]

13. Thanks for the post. Pretty much sums up how much influence GS had & has within our govt.

Love Greg Palast's work.

[monmouth4]

6. She absolutely disgusts me..n/t

[tk2kewl]

8. .

Hillary Clinton *is* the globalists' end-game candidate
http://www.democraticunderground.com/12511381011

[Hoyt]

9. As much as I like "the rent's too high guy," I do think you need someone who understands how all

components of our financial system -- from consumers, the poor, average middle class peeps, small banks, worldwide investment banks, Germany, China, Britain, Angola, etc., -- work and relate. And, how they might better relate for people. In some cases, that might well be someone who worked in some capacity for "Wall Street." The critical point is what aspects were they trained in and do they have respect for everyone involved and impacted for Treasury decisions.

Personally, I'd prefer some academic. Not sure if Treasury would be to his liking, but Joseph Stiglitz is a favorite of Sanders' supporters nowadays, and was in the Clinton Administration, worked for the World Bank, has advised Obama, etc. However, I think it would be a mistake to say that no one with Wall Street experience would be considered.

[think]

12. It's very likely to be the Goldman Sachs former partner that pushed for the CFMA which allowed

the economic meltdown to occur. Gary Gensler was instrumental in writing a 17 word clause in a 228 page amendment to Dodd Frank that the big banks are now exploiting as a loophole to offshore derivatives.

So the possibility of Gensler as Sec Treas. just thrills me to death!

http://www.democraticunderground.com/?com=view_post&forum=1251&pid=1384070
......

[Hoyt]

15. I doubt seriously it will be him or anyone like him, but you can predict anyone you want. Fact is,

who(m)ever she names will be criticized, even Stiglitz, Krugman, etc.

[think]

16. Gensler is her chief economic adviser. He was in Bill's admistration & Obama's.

But you are correct in saying he may not get the nod. Nothing has been stated to that effect. Still I hope I never have to find out who she'd nominate.

If that day comes I'd be thrilled to hear her say someone like Stiglitz. Krugman would also be better than a true inside Wall Street crony like Gensler, Summers, Geithner, Paulson, Froman etc etc etc....

[BernieforPres2016]

10. It doesn't have to be Goldman

She can also draw from the Rubin tree at Citi like Obama.

[think]

11. There's probably plenty of room in her administration for both of them to have some say..../nt

[pansypoo53219]

17. goldman fuck us all.