Sunday, October 16, 2016

Hillary Clinton Butters Up Wall Street for Money



Vincent J. Curtis

16 Oct 2016


With the continuing WikiLeaks disclosures, I am falling behind all the scandalous revelations!

The one email written by Tony Carrk on HRC Paid Speeches is full of quotations from Hillary’s secret speeches that he thought would be problematic to the campaign should they become publically known.  Reporting on this one fruitful email is causing all the delay.

The funny thing about the set of disclosures to be covered below is that they sound so moderate.  Hillary sounds like a moderate Republican.  We cannot be sure if this is pure duplicitousness on her part or not, because we cannot be sure if the opinions she expresses are her private ones or her public ones.

Hillary speaks like a condescending mother at times, or a little-league coach encouraging children to do better.  She mentions all the suffering she has gone through on their behalf.  She gives them the impression that she is on their side.  Then she delivers the pay-off pitch, asking for money in her usual self-justifying way: other people are doing worse.

If Bernie Sanders had gotten hold of these emails early in the primaries I’m not sure whether he would have had a stroke, or he would have broken into one of his toothy, devilish smiles.

Let’s go through the extracts below:


*CLINTON TALKS ABOUT HOLDING WALL STREET ACCOUNTABLE ONLY FOR POLITICAL REASONS* *Clinton Said That The Blame Placed On The United States Banking System For The Crisis “Could Have Been Avoided In Terms Of Both Misunderstanding And Really Politicizing What Happened.”* “That was one of the reasons that I started traveling in February of '09, so people could, you know, literally yell at me for the United States and our banking system causing this everywhere.
And I think that there's a lot that could have been avoided in terms of both misunderstanding and really politicizing what happened with greater transparency, with greater openness on all sides, you know, what happened, how did it happen, how do we prevent it from happening? You guys help us figure it out and let's make sure that we do it right this time. [Goldman Sachs AIMS Alternative Investments Symposium, 10/24/13]

Here we have poor Hillary saying she took blows for the team and then, in a motherly sort of way, saying that Washington should be told by Wall Street what needs to be done in respect of regulating complex financial instruments.  Here, as elsewhere, we see these remarks were delivered in her inarticulate manner, off-the-cuff despite the $225,000 speaking fee.


*Clinton: “Even If It May Not Be 100 Percent True, If The Perception Is That Somehow The Game Is Rigged, That Should Be A Problem For All Of Us.” [Clinton Remarks to Deutsche Bank, 10/7/14]

In the Deutsche Bank passage, Hillary gives the impression that she is really on the side of the Wall Street banks, and that she would face their travails with them.


*CLINTON SUGGESTS WALL STREET INSIDERS ARE WHAT IS NEEDED TO FIX WALL STREET*

Today, there's more that can and should be done that really has to come from the industry itself, and how we can strengthen our economy, create more jobs at a time where that's increasingly challenging, to get back to Teddy Roosevelt's square deal. And I really believe that our country and all of you are up to that job.” [Clinton Remarks to Deutsche Bank, 10/7/14]

Hillary again leaves the distinct impression of her implicit faith in Wall Street.

*Speaking About The Importance Of Proper Regulation, Clinton Said “The People That Know The Industry Better Than Anybody Are The People Who Work In The Industry.”* “I mean, it's still happening, as you know. People are looking back and trying to, you know, get compensation for bad mortgages and all the rest of it in some of the agreements that are being reached…..And I think there has to be a recognition that, you know, there's so much at stake now, I mean, the business has changed so much and decisions are made so quickly, in nano seconds basically. We spend trillions of dollars to travel around the world, but it's in everybody's interest that we have a better framework, and not just for the United States but for the entire world, in which to operate and trade.” [Goldman Sachs AIMS Alternative Investments Symposium, 10/24/13]

Again, in an inarticulate, motherly sort of way, Hillary Clinton shows more sympathy to Wall Street bankers than she does to those people who are trying to get compensation for bad mortgages.  Then she raises the need for regulatory reform for political show if nothing else.  And she hints at including Wall Street representatives in the formulation of those reforms.

And now, the pay-off pitch:


*Clinton: “It Would Be Very Difficult To Run For President Without Raising A Huge Amount Of Money And Without Having Other People Supporting You Because Your Opponent Will Have Their Supporters.”

“I would like it not to be so expensive. I have no idea how you do that. I mean, in my campaign -- I lose track, but I think I raised $250 million or some such enormous amount, and in the last campaign President Obama raised 1.1 billion, and that was before the Super PACs and all of this other money just rushing in, and it's so ridiculous that we have this kind of free for all with all of this financial interest at stake, but, you know, the Supreme Court said that's basically what we're in for. So we're kind of in the wild west, and, you know, it would be very difficult to run for president without raising a huge amount of money and without having other people supporting you because your opponent will have their supporters. So I think as hard as it was when I ran, I think it's even harder now.” [Clinton Speech For General Electric’s Global Leadership Meeting – Boca Raton, FL, 1/6/14]

Here is where Hillary asks for money, and she does so with her characteristic justification: other people do it.  That Colin Powell did it first was the justification for her email practices.  Here she says that she is going to need a lot more than $250 million, and blames the Supreme Court decision Citizens United v. FEC for the size of the amount she requests.

The overall tenor of her remarks are moderation, reasonableness, and a sensitivity to the needs of Wall Street.  She played the Bernie Sanders caricature of a Republican Wall Street toady.  If they give her the money she needs to get elected president, she won’t forget who her friends are.  I have helped you, I will help you, but you must help me.  Except that a Republican would be too embarrassed to ask for money after saying all those reasonable things to Wall Streeters.

Any Bernie supporters, any left-wing Stein-inclined progressives reading this, ought to have their hair on fire by now.  Everything Bernie said about Hillary’s toadying up to Wall Street is confirmed.  Now, I think she was reasonable, but given her character, I wouldn’t trust her with a campaign donation any farther than I could throw her.  That was then, this is now, and he give me a bigger sum more recently.  Wall Streeters were a little more gullible that I am.

A lot of people accuse Donald Trump of being inarticulate in speech, but Hillary’s speaking is as much stream-of-consciousness as Trump’s is.
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