Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

2016 Postmortem

Showing Original Post only (View all)

Octafish

(55,745 posts)
Wed Mar 30, 2016, 11:26 AM Mar 2016

If you want to learn WHY Bill and Hillary Clinton are so close to Wall Street... [View all]

...helped repeal Glass-Steagall, became empathetic with those in natural gas and fracking and other mineral extraction industries, and seemed content with irregular international banking practices a la BCCI; then check out this article from the great Barbara Demick, once of The Philadelphia Inquirer, which ran three days before the inauguration of President Clinton in 1993:



Clinton's Wealth Of Support

An Arkansas Family Has Been A Backer,
And A Source Of Controversy.


By Barbara Demick
PHILADELPHIA INQUIRER STAFF WRITER, January 17, 1993

EXCERPT...

Early in the game, the Stephenses raised $100,000 in Arkansas to get Clinton's candidacy up and running. Then last spring, when Clinton was trailing both George Bush and Ross Perot, Worthen Bank supplied the cash- starved campaign with a $3.5 million line of credit.

SNIP...

The centerpiece of the family's $1 billion empire is Stephens Inc., one of the largest investment banking firms off Wall Street. In addition to its 38 percent interest in Worthen Bank, the family owns stakes in oil and natural gas, utilities, nursing homes, waste management, diamond mining and hog farming.

SNIP...

The Stephens businesses are often represented by the Rose law firm, where Hillary Clinton has been a partner. Until the mid-1980s, they owned Arkla Inc., the Shreveport, La., natural-gas utility from which Clinton tapped chairman Thomas F. "Mack" McLarty as his White House chief of staff. Their investment firm serves as business manager to Linda Bloodworth-Thomason and Harry Thomason, the Hollywood couple who helped choreograph Clinton's public image.

SNIP...

In 1978, federal securities regulators alleged that Stephens, along with Lance, helped Middle Eastern investors linked to BCCI secretly buy up shares in a Washington bank. Stephens and the others settled the civil lawsuit by signing a consent decree in which they neither admitted nor denied wrongdoing.

SNIP...

The Stephenses have extensive holdings in natural gas, a resource strongly supported by Clinton. They, along with Bradbury, have been vocal proponents of easing banking regulations - in particular the limits on interstate banking and the Glass-Steagal Act, which separates banks from brokerage firms.

CONTINUED...

http://articles.philly.com/1993-01-17/news/25959645_1_worthen-bank-stephens-family-bill-clinton



The whole article is worth reading if you want to understand Ms. Clinton and where she's coming from -- and where she will lead.
49 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Just another reason why Bernie Sanders. dchill Mar 2016 #1
In 1991, Bernie stood against G.H.W. Bush and GULF WAR 1 lies. Octafish Mar 2016 #5
Hillbots Ignore This... To the Detriment of The Rest of Us... CorporatistNation Mar 2016 #17
The "Experience vs JUDGEMENT" sounds like a false equaivancy nolabels Apr 2016 #44
Kickin' & a Recken' 2banon Mar 2016 #2
What Saddam Hussein Is To Bush, BCCI Scandal Could Be To Clinton Octafish Mar 2016 #9
K&R....but...but...it's 'so 90's...' - the statutes of realization have apparently expired... islandmkl Mar 2016 #3
No senor, Don Quijote y Sancho Panza no estan aqui. Octafish Mar 2016 #10
That seems to tie up some loose ends astrophuss42 Mar 2016 #4
Explains how we got here and what we do to have to avoid going ''There.'' Octafish Mar 2016 #11
They have had their chance marions ghost Mar 2016 #24
the role of Glass-Steagal in the economic crash as been debunked by both sides repeatedly. nt Jitter65 Mar 2016 #6
No it hasn't, and not even by one side. Ask William K. Black. Octafish Mar 2016 #13
Wow...this is a perfect example of omitting relevant facts noiretextatique Mar 2016 #15
K&R GeorgiaPeanuts Mar 2016 #7
The late Bert Lance, OMB Director for President Carter, liberal Democrat... Octafish Mar 2016 #26
their quid pro quo behavior goes way back; amborin Mar 2016 #8
What would Goldman think of that? Octafish Apr 2016 #32
So much filth, I think need a shower. closeupready Mar 2016 #12
That is the feeling from learning this stuff. Octafish Mar 2016 #23
No matter what happens, know that you are MORE than closeupready Mar 2016 #29
Stunk from the get-go. :( Hell Hath No Fury Mar 2016 #14
I am perplexed by support for them noiretextatique Mar 2016 #16
I used to be a staunch Clinton supporter. Hell Hath No Fury Mar 2016 #19
pretty much the same trajectory for me. "the bell can't be unrung" <-- totally. nashville_brook Mar 2016 #21
++++++++ marions ghost Mar 2016 #27
You made my day, Hell Hath No Fury. Octafish Apr 2016 #34
Kicked. Will do nothing to slow fracking IMO nt mariawr Mar 2016 #18
Fracking is Buy Partisan. Octafish Apr 2016 #33
K&R felix_numinous Mar 2016 #20
I wonder if they're hiring? Octafish Apr 2016 #36
^ Wilms Mar 2016 #22
Ms. Clinton was paid $225,000 by UBS to speak to the Wealth Management department on July 11, 2013. Octafish Apr 2016 #38
That was a walk down Memory Lane; Hillary's "commodities trading profits" were from that era BernieforPres2016 Mar 2016 #25
Hillary Clinton Invested $1,000, Netted $100,000 Through Trading Octafish Apr 2016 #40
President Obama thought this way once. He resisted using a Super PAC in 2012. Trust Buster Mar 2016 #28
Obama's Big Sellout: The President has Packed His Economic Team with Wall Street Insiders Octafish Apr 2016 #42
Willie Sutton (criminal) is alleged to have said (but he denied it): He robbed banks because NCjack Mar 2016 #30
How Corrupt Is the American Government? See For Yourself... Octafish Apr 2016 #39
Kick. Rec and bookmarked... tex-wyo-dem Mar 2016 #31
How Chile and Pinochet pioneer the privatization of Social Security. Octafish Apr 2016 #43
Kicked. nt mariawr Apr 2016 #35
'We came. We saw. He died' Octafish Apr 2016 #46
Thanks, Octafish. K&R nt antigop Apr 2016 #37
even the "social issues" ibegurpard Apr 2016 #41
Exactly! Good Point! Avalon Sparks Apr 2016 #45
... DanTex Apr 2016 #47
How rude of me. Hillary HAS been out of office since 2012. Thank you for the kind reminder... Octafish Apr 2016 #48
KNR FlatBaroque Apr 2016 #49
Latest Discussions»Retired Forums»2016 Postmortem»If you want to learn WHY ...»Reply #0