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hellofromreddit

(1,182 posts)
Sat May 14, 2016, 10:51 AM May 2016

Why is concern over Clinton's wall street ties not a legitimate issue?

People around here are trying to frame it as some bogus right-wing smear that otherwise good liberals have been snookered into somehow.

To me it seems apparent that receiving campaign funding from wall street (when I say wall street, it's just a fill-in for the whole financial services industry) is a conflict, and a big one at that. On the one had, a politician has to go to a relatively small number of people who benefit profoundly from the current system and ask for support. On the other hand, we expect that politician to make changes that will damage those same people. How on Earth is that supposed to work?

It didn't work for Obama; he got a whole lot of financial help from wall street and his administration has had an utterly pitiful record of actually prosecuting bank personnel involved in the mortgage crisis. Holder did nothing while Lynch has only made promises and that policy is more of a promise to do better in the future than to revisit the past. So what's to make us believe that this time things will be different? Dodd-Frank exists, sure, but it depends rather heavily on actions by the executive branch, so that doesn't diffuse the conflict. The new executive could just continue to do a poor job of utilizing it.

Granted, the speech transcripts thing is a bit petty, but it grows legs because the payments for those speeches are so obviously disproportionate--that's what's really driving the anger. It looks awfully similar to corruption we've seen from others before.

Between the apparent conflict of interest and the appearance of corruption, is it completely unreasonable that some are worried? At the least, could anyone explain why this is all pretty reasonable behavior for a candidate without talking down to the rest of us?

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Why is concern over Clinton's wall street ties not a legitimate issue? (Original Post) hellofromreddit May 2016 OP
Every time something has been said involving Wall Street and HRC or election fraud or bkkyosemite May 2016 #1
It absolutely is! TDale313 May 2016 #2
That's right Arneoker May 2016 #91
Even Bernie in the last debate couldn't come up with one instance of corruption redstateblues May 2016 #3
OK, Bernie looked foolish. So what's your point with that observation? hellofromreddit May 2016 #6
I suspect he was biting his tongue Armstead May 2016 #13
This is exactly what happened...Trump will not be so hesitant to dish on Hillary... Human101948 May 2016 #32
Well gee, THAT'S never happened before! Arneoker May 2016 #92
Trump will inflate Hillary's negatives until her ratings are equal to his... Human101948 May 2016 #100
I agree. He's been trying to keep his campaign clean, and of course he gets no credit for it. hellofromreddit May 2016 #39
He had nothing. That had been the centerpiece of his campaign redstateblues May 2016 #31
The centerpiece of his campaign? That is obviously not true. hellofromreddit May 2016 #38
Corruption not the centerpiece? He hammers it in every speech. redstateblues May 2016 #58
Income inequality. hellofromreddit May 2016 #60
People who have contempt for the very idea of economic justice wouldn't understand. delrem May 2016 #83
Gee, I never know I had contempt for the very idea of economic justice! Arneoker May 2016 #93
271 posts and you already figure I'm singling you out? delrem May 2016 #104
That was a sly response from Hillary. KPN May 2016 #34
We won't know what the payoffs are until she's in a position to pay them off. Peace Patriot May 2016 #67
And it is all legal so we had better like it. kpola12 May 2016 #103
Scalia would be very proud of you pmorlan1 May 2016 #72
He was shocked .99center May 2016 #82
The voters have heard this for months from Bernie himself, no evidence of BootinUp May 2016 #4
the "cut it out, Glass-Steagall wasnt the problem" reform? reddread May 2016 #7
Read it yourself. nt BootinUp May 2016 #10
sorry, lost me at "Hillary believes" reddread May 2016 #15
Perhaps there are more open minded folks that will read it. nt BootinUp May 2016 #18
you mean suckers reddread May 2016 #19
We are going to have 8 years to argue about this. nt BootinUp May 2016 #21
that wish wont be coming true reddread May 2016 #23
I read it.... Armstead May 2016 #43
That seems like a bit of a stretch. hellofromreddit May 2016 #9
If this is a "Bernie is the stronger GE candidate" argument BootinUp May 2016 #11
That seems fair. Thanks. hellofromreddit May 2016 #17
Silly. KPN May 2016 #36
What's the record, what's the record, what's the record Arneoker May 2016 #95
can't get much tougher than proposing to break up the banking monopolies Armstead May 2016 #40
And Clinton has said she would based on risk to the economy, but the BootinUp May 2016 #46
It's not just risks to the economy.... Armstead May 2016 #47
Agreed, and that is also addressed in her platform BootinUp May 2016 #48
Hers lacks the necessary framework... Armstead May 2016 #49
That kind of rhetoric doesn't win the WH. But the policies to address the problem BootinUp May 2016 #51
We'll have to disagree -- I think that kind of rhetoric can win the WH and Congress Armstead May 2016 #54
You are siding with the majority pmorlan1 May 2016 #68
Sorry, but your argument makes no sense at all BootinUp May 2016 #69
Makes Perfect Sense pmorlan1 May 2016 #70
Knock yourself out then. nt BootinUp May 2016 #71
Bottom line, what does her record show? Arneoker May 2016 #94
I'm sure Trump has the transcripts to her speech to Wall Street. October Surprise? B Calm May 2016 #5
Go to any large company beedle May 2016 #8
Yeah, even when I was at the bottom of the totem pole I had to sit through training about it. hellofromreddit May 2016 #26
So you were warped by corporate group think. Buzz cook May 2016 #56
Your attack is weak. I mopped floors. hellofromreddit May 2016 #59
And yet you still reject evidence. Buzz cook May 2016 #64
It's not about 'evidence' of a crime beedle May 2016 #73
Yup that's another republican talking point Buzz cook May 2016 #80
Protip: you can make that point without the insults and lying. hellofromreddit May 2016 #84
Sorry Buzz cook May 2016 #99
Yes, and integrity obviously does not come into play in your calculation beedle May 2016 #98
Integrity does come into play Buzz cook May 2016 #102
because it's inconvenient? Armstead May 2016 #12
There should be a transaction tax on the financial services industry. PufPuf23 May 2016 #14
Pay me $200,000 dollars for a speech JEB May 2016 #16
Because it might make her look kinda neoCon Ferd Berfel May 2016 #20
As the Senator from New York, you want her to dismiss a huge part of her constituents? procon May 2016 #22
Make your argument without the insults. hellofromreddit May 2016 #25
Defend your allegations with something more substantial than opinions. nt procon May 2016 #37
Whatever you came here to achieve you've failed. hellofromreddit May 2016 #41
An ex-Gov of NY, FDR, enacted Glass-Steagall, which Hillary opposes TheDormouse May 2016 #35
Hogwash. procon May 2016 #50
Explain why Hillary doesn't say TheDormouse May 2016 #62
I'm not her archivist, a soothsayer, or a reader of tea leaves, but opinions, I got 'em. procon May 2016 #79
take your time ... TheDormouse May 2016 #75
Here's that ex-Govenor of NY talking about Wall St TheDormouse May 2016 #65
Because - All Things Hillary - have been exaggerated Bobbie Jo May 2016 #24
Well, that is a pretty good point. hellofromreddit May 2016 #33
I have something to say that is liberal and pro Democrat, but as this is Democratic Jackie Wilson Said May 2016 #27
Would you say it in a PM? hellofromreddit May 2016 #28
No point in a PM. I was hoping to use Democratic Underground to promote the idea Jackie Wilson Said May 2016 #29
If you opposed the 2003 Iraq invasion, you supported Saddam RufusTFirefly May 2016 #30
As you can see, it is virtually unexplainable without just poo-pawing the questioner ... KPN May 2016 #42
it's scary what she gets away with. Joob May 2016 #44
The transcript issue is not petty. It's reflective of her fiscal policy going forward and leadership EndElectoral May 2016 #45
Clinton's rewired the party into becoming one big protection mechanism for her MisterP May 2016 #52
Apparently there is also little concern that the Democratic National Convention is being bjo59 May 2016 #53
"To me it seems apparent" Buzz cook May 2016 #55
You didn't make your point. You just tossed out a few lame insults. hellofromreddit May 2016 #61
Bullshit nt Buzz cook May 2016 #63
The perception of wrongdoing is often as damaging is the reality of wrongdoing. Tierra_y_Libertad May 2016 #66
And perceptions can be and are Buzz cook May 2016 #81
Some of our best Presidents had connections to wall Street and were weak hy, FDR, JFK, Hoyt May 2016 #57
I don't believe that the speech transcripts thing is petty at all Time for change May 2016 #74
IOKIYHRC? Beartracks May 2016 #76
Yeap, her camp stole SBS data from 11 states.... she cheated !! Oh wait uponit7771 May 2016 #77
To criticize Hillary Clinton is to criticize the Democratic Party. She is our "queen", you know. w4rma May 2016 #78
It is a legitimate issue, but if you hear the love fest for yourself you might choose Bernie. Vinca May 2016 #85
Every candidate has "ties to Wall Street". randome May 2016 #86
Not all candidates are paid big money to talk to them. October Surprise B Calm May 2016 #87
"What you really mean is how can use this issue against Clinton. Right?" hellofromreddit May 2016 #88
I made it: every candidate has some degree of a "tie to Wall Street". randome May 2016 #89
Nobody can prove a negative. hellofromreddit May 2016 #90
You're right, you can't prove a negative. Clinton's fees & contributions are well known, though. randome May 2016 #96
I'm not sure where you're going with this hellofromreddit May 2016 #97
Asking is legit. Unfounded blanket statements about corruption aren't. CrowCityDem May 2016 #101

bkkyosemite

(5,792 posts)
1. Every time something has been said involving Wall Street and HRC or election fraud or
Sat May 14, 2016, 10:56 AM
May 2016

anything else that would show that HRC actions show a conflict of interest or a win at any cost the excuses fly up high in the sky.

TDale313

(7,820 posts)
2. It absolutely is!
Sat May 14, 2016, 11:02 AM
May 2016

And it's far bigger than her. It's the whole system that's broken. "Everyone does it. It's perfectly legal" Yes, that's the problem. "It has no impact on their decision making ability" Bull. Fucking. Shit.

Arneoker

(375 posts)
91. That's right
Sun May 15, 2016, 09:53 AM
May 2016

For example, she cast the same vote that several other female Senators on the bankruptcy bill over a provision protecting divorced women. Proves she is a puppet of Wall Street! Or something...

redstateblues

(10,565 posts)
3. Even Bernie in the last debate couldn't come up with one instance of corruption
Sat May 14, 2016, 11:02 AM
May 2016

After railing about it for the last year. He looked very foolish.

 

Armstead

(47,803 posts)
13. I suspect he was biting his tongue
Sat May 14, 2016, 11:27 AM
May 2016

I think if he was put into a closed room and asked that question, he'd go on and on...


I suspect he was following campaign etiquette and not saying things he knows about, but are not appropriate to say in public in a campaign

 

Human101948

(3,457 posts)
32. This is exactly what happened...Trump will not be so hesitant to dish on Hillary...
Sat May 14, 2016, 12:21 PM
May 2016

Stuff is going to come out that will make her look very bad.

 

Human101948

(3,457 posts)
100. Trump will inflate Hillary's negatives until her ratings are equal to his...
Sun May 15, 2016, 03:08 PM
May 2016

That's all it will take for him to make this close.

And she hasn't been able to reduce those negatives. Fair or not they stick.

delrem

(9,688 posts)
83. People who have contempt for the very idea of economic justice wouldn't understand.
Sun May 15, 2016, 03:12 AM
May 2016

For them it's all about Hillary.

Arneoker

(375 posts)
93. Gee, I never know I had contempt for the very idea of economic justice!
Sun May 15, 2016, 09:57 AM
May 2016

All this time I thought that economic justice was one of my key political principles! Even more important than speech transcripts and email servers! Thank you for the enlightenment about myself!

KPN

(15,646 posts)
34. That was a sly response from Hillary.
Sat May 14, 2016, 12:25 PM
May 2016

If the influence of money on elected officials actions were easy to prove as corruption (that is, a direct correlation) then most of Congress would be in jail.

Yet we are all influenced by money in our daily lives -- and know it. It doesn't take a rocket scientist to figure out that there might be a conflict of interest at play. Research has shown that Congress doesn't listen to and act on the desires of voters. It makes no sense to expect that the President would be different.

At any rate, Hillary was well prepared for Bernie in that debate, and it was a very sly retort.

Peace Patriot

(24,010 posts)
67. We won't know what the payoffs are until she's in a position to pay them off.
Sat May 14, 2016, 02:45 PM
May 2016

That's what our White House is going to be used for, should she make it past Trump (which is very iffy, at this point). But there are certainly some hints of what's to come:

--criminal banksters and speculators who turned her into one of theirs by giving her half a billion dollars in pocket change for 20 minute private speeches AND are big donors to her campaign

--okaying weapons deals for the Saudis and other woman-hating Gulf regimes, while they contributed tens of millions of dollars to the Clinton Foundation: pay-to-play as SoS, pay-to-play as Prez?

--her opposition to re-instating Glass-Steagall

--her consistent support for "free trade for the rich" (though she currently lies that she's against TPP); many Clinton donors among the "free trade for the rich" crowd

--her support for the private prison industry, and their support for her

--her vote for the Iraq War, boon to war profiteers, many of whom are among her donors

--her waffling on fracking; many frackers & other fossil fuel profiteers among her donors

--her support for the murderous fascist coup in Honduras, which was all about U.S. "free trade for the rich" and U.S. military expansion; many beneficiaries among her donors

So she's already paid some of her donors, and they're all wetting their pants for when she has the power to do more.

Bernie is too much of a gentleman to point all this out. And he really does want to run a positive campaign that lays out the systemic problems in our government and provides solutions, and embodies solutions. And he is right: Clinton is just the tip of the iceberg of our systemic problems. It's all that's underneath that may sink this Titanic.

pmorlan1

(2,096 posts)
72. Scalia would be very proud of you
Sat May 14, 2016, 04:26 PM
May 2016

That's his argument. If you can't show quid pro quo then there is no corruption. The liberal dissent in Citizens United argued the opposite.

.99center

(1,237 posts)
82. He was shocked
Sun May 15, 2016, 03:07 AM
May 2016

He thought that Hillary had enough commonsense not to sacrifice one of the party's main platforms for her own selfish desire to win an argument. She just told Democratic voters that money has no influence on our elected officials, what did you expect him to say? She try's to label Bernie as anti-Obama for months, and in one sentence she destroys 8 years of work that Obama spent making the case to get money out of politics. It worked, half of the Democratic base now believes that money doesn't play a big role in our elections and are fighting to underscore the role it does play. Is her strategy in the GE to go to the right of Trump?

BootinUp

(47,165 posts)
4. The voters have heard this for months from Bernie himself, no evidence of
Sat May 14, 2016, 11:05 AM
May 2016

quid pro quo mind you.

The reason it is not viewed as legitimate by many, is that she has proposed reforms that have been judged as tougher on Wall Street than Bernies plan.

BootinUp

(47,165 posts)
10. Read it yourself. nt
Sat May 14, 2016, 11:18 AM
May 2016
https://www.hillaryclinton.com/issues/wall-street/


Wall Street reform

Wall Street must work for Main Street.

Hillary will:

Veto Republican efforts to repeal or weaken Dodd-Frank.

Tackle dangerous risks in the big banks and elsewhere in the financial system.

Hold both individuals and corporations accountable when they break the law.

“Our banking system is still too complex and too risky … While institutions have paid large fines and in some cases admitted guilt, too often it has seemed that the human beings responsible get off with limited consequences – or none at all, even when they’ve already pocketed the gains. This is wrong, and on my watch, it will change.”

Hillary Clinton, JULY 13, 2015

The financial crisis showed how irresponsible behavior in the financial sector can devastate the lives of everyday Americans—costing 9 million workers their jobs, driving 5 million families out of their homes, and wiping out more than $13 trillion in household wealth. Hillary has a plan to reduce the risk of future crises and make our financial system fairer and more accountable.

Hillary’s plan will tackle dangerous risks in the financial system:

Impose a risk fee on the largest financial institutions. Banks and financial companies would be required to pay a fee based on their size and their risk of contributing to another financial crisis.

Close the Volcker Rule’s hedge fund loophole. The Volcker Rule prohibits banks from making risky trading bets with taxpayer-backed money—one of the core protections of the post-financial crisis Wall Street reforms. However, under current law these banks can still invest billions through hedge funds, which are exempt from this rule. Hillary would close that loophole and strengthen the law.

Discourage excessive risk-taking by making senior bankers accountable. Senior managers should lose some or all of their bonus compensation when a large bank suffers losses that threaten its overall financial health.

Make sure no firm is ever too big and too risky to be managed effectively. Hillary’s plan would give regulators more authority to force overly complex or risky firms to reorganize, downsize, or break apart.

Tackle financial dangers of the “shadow banking” system. Hillary’s plan will enhance transparency and reduce volatility in the “shadow banking system,” which includes certain activities of hedge funds, investment banks, and other non-bank financial companies.

Impose a tax on high-frequency trading. The growth of high-frequency trading has unnecessarily placed stress on our markets, created instability, and enabled unfair and abusive trading strategies. Hillary would impose a tax on harmful high-frequency trading and reform rules to make our stock markets fairer, more open, and transparent.

Hillary would also hold both corporations and individuals on Wall Street accountable by:

Prosecuting individuals when they break the law. Hillary would extend the statute of limitations for prosecuting major financial frauds, enhance whistleblower rewards, and provide the Department of Justice and the Securities and Exchange Commission more resources to prosecute wrongdoing.

Holding executives accountable when they are responsible for their subordinates’ misconduct. Hillary believes that when corporations pay large fines to the government for violating the law, those fines should cut into the bonuses of the executives who were responsible for or should have caught the problem. And when egregious misconduct happens on an executive’s watch, that executive should lose his or her job.

Holding corporations accountable when they break the law. As she enhances individual accountability, Hillary will make sure that corporations don’t treat penalties for breaking the law as merely a cost of doing business, so that we can put an end to the patterns of corporate wrongdoing that we see too often today.

Read more about Hillary's plan here.

 

reddread

(6,896 posts)
23. that wish wont be coming true
Sat May 14, 2016, 12:03 PM
May 2016

but there are always S&M clubs and strange things to do while the rest of the world is healing.

 

Armstead

(47,803 posts)
43. I read it....
Sat May 14, 2016, 12:41 PM
May 2016

Some good ideas....some seem like borrowing from Bernie....some are more specific, but Bernie would be specific in how he does it too...and missing is an overarching vision that is not just apple pie.

Also missing is what is really needed, which is to bring the Way Too Big and Powerful Financial Monopolies down to size, and restore a more broadly based and competitive financial sector

Also, I just don't trust her to do what she says in a campaign....or even to try

 

hellofromreddit

(1,182 posts)
9. That seems like a bit of a stretch.
Sat May 14, 2016, 11:15 AM
May 2016

For a moment, take the mindset of someone who thinks Clinton may have been corrupted. Would you place a lot of value in the promise of a policy from her? I don't think you would.

What you're saying seems like the sort of thing that a person will agree with only if they're predisposed to agree. IOW, it changes no minds.

BootinUp

(47,165 posts)
11. If this is a "Bernie is the stronger GE candidate" argument
Sat May 14, 2016, 11:23 AM
May 2016

then I can see discussing it in that frame as a legitimate debate. Not that I agree.

KPN

(15,646 posts)
36. Silly.
Sat May 14, 2016, 12:32 PM
May 2016

It's great that you think highly of Hillary. I don't have an issue with that frankly. But it just seems disingenuous and silly for anyone in this day and age to defend taking millions of dollars in payouts from Wall Street bankers on the basis of lack of direct quid pro quo evidence. It just seems really naive to think that the receiver of that money wouldn't somehow favor the giver. I know, call me cynical. That's okay -- because I have plenty of reason to be, including lots of experts have judged Dodd-Frank to be soft on Wall Street and insufficient to avoid another big collapse. We will see that collapse sooner than later I believe.

Arneoker

(375 posts)
95. What's the record, what's the record, what's the record
Sun May 15, 2016, 10:07 AM
May 2016

If you cannot argue from the record then you cannot argue. I know some can make some arguments, their records are not precisely the same. I don't think that the arguments from the record are all that compelling against Hillary, but at least some try to make them.

BootinUp

(47,165 posts)
46. And Clinton has said she would based on risk to the economy, but the
Sat May 14, 2016, 12:51 PM
May 2016

country in a GE is not going to support breaking up financial institutions without strong evidence of risk on individual cases. Bernie's campaign rhetoric sounds to overreaching to many.

What they WILL support is a plan to reduce risk by improved regulation.

 

Armstead

(47,803 posts)
47. It's not just risks to the economy....
Sat May 14, 2016, 12:56 PM
May 2016

It's a basic question to too much much money and too much power in too few hands. Lack of competition. Consumer abuse. Pressures on corproate investments to make a Profit at Any Cost.

This is just WRONG -- and the chart doesn't depict all of the smaller and regional institutions that were sucked into these monsters before the 90's. That would show an even more glaring depiction of how the economy has been swallowed up.

BootinUp

(47,165 posts)
48. Agreed, and that is also addressed in her platform
Sat May 14, 2016, 12:59 PM
May 2016

By things like Campaign Finance Reform, Economic Policies, Small Business Plan.

The reality is that Bernie's platform and hers are closer than you realize.

 

Armstead

(47,803 posts)
49. Hers lacks the necessary framework...
Sat May 14, 2016, 01:11 PM
May 2016

The trend to massive Corporate Monopolies, the purchase of government, the leaving out of the majority from decisions and policies, the demise of the Middle Class and concentration of wealth....these trends have been escalating uninterrupted since at least 1980.

The elites of both parties have enabled it. Both in a lack of public message opposing it, and in behind the scenes corruption that doesn't make the nightly news.

We have to go at the source, and call it out, or this lobster-boiling will just continue.

BootinUp

(47,165 posts)
51. That kind of rhetoric doesn't win the WH. But the policies to address the problem
Sat May 14, 2016, 01:18 PM
May 2016

are in her plan. Here is a small part from her Economic Plan.

Put an end to “quarterly capitalism.” We need an economy where companies plan for the long run and invest in their workers through increased wages and better training—leading to higher productivity, better service, and larger profits. Hillary will revamp the capital gains tax to reward farsighted investments that create jobs. She’ll address the rising influence of the kinds of so-called “activist” shareholders that focus on short-term profits at the expense of long-term growth, and she’ll reform executive compensation to better align the interests of executives with long-term value.

Impose accountability on Wall Street. Nowhere will the shift from short-term to long-term thinking be more important than on Wall Street. Hillary will defend the Wall Street reforms put in place after the financial crisis—and she’ll go further. She’ll tackle dangerous risks in the financial sector, and she’ll appoint and empower tough, independent regulators and prosecute individuals and firms when they commit fraud or other criminal wrong-doing.

https://www.hillaryclinton.com/issues/plan-raise-american-incomes/

 

Armstead

(47,803 posts)
54. We'll have to disagree -- I think that kind of rhetoric can win the WH and Congress
Sat May 14, 2016, 01:29 PM
May 2016

the majority of average people (and I include minorities, women and all the core demographic constituencies) feel disempowered and abused by the system and alienated from politics. They dislike the immoral nature of the modern economy.

They want a party that will stand up for them, and challenge the Corporate and Wall St' elites.

They also deserve a party that will represent and be responsive to them instead of to those elites.

That, IMO, would be a winning message.

http://www.democraticunderground.com/12511954521

pmorlan1

(2,096 posts)
68. You are siding with the majority
Sat May 14, 2016, 03:48 PM
May 2016

in the Citizens United decision when you focus on quid pro quo. Yeah, you are agreeing with Scalia and company. Way to go.

To Protect Hillary Clinton, Democrats Wage War on Their Own Core Citizens United Argument


Look, if you can’t prove that Hillary changed her vote in exchange for Goldman Sachs speaking fees or JPMorgan Chase donations (and just by the way, Elizabeth Warren believes she can prove that), then you can’t prove that these donations are corrupting. After all, argue Clinton supporters (echoing the Citizens United majority), “the hallmark of corruption is the financial quid pro quo: dollars for political favors.”

Conversely, the once-beloved Citizens United dissent from the Court’s liberals, written by Justice Stevens, was emphatic in its key claim: that there are many other forms of corruption brought about by corporate campaign expenditures beyond such quid pro quo — i.e., bribery — transactions. Their argument was that large amounts of corporate cash are almost inevitably corrupting, and certainly undermine trust in the political system, because of the many different ways (well beyond overt quid pro quos) that corporations convert their expenditures into undue influence and access:


That core argument from the liberal Citizens United dissenters has been the central critique the Sanders campaign and its supporters have used to denounce Clinton’s massive corporate-based campaign (and personal) wealth. Incredibly, to defend their candidate against this critique, Clinton supporters have waged war on the crux of the liberal critique of Citizens United.

Oh no, Clinton supporters insist, the mere fact that a candidate is receiving millions upon millions of dollars — both politically and personally — from Wall Street banks, hedge funds, and large corporations is not remotely suggestive of corruption, and we’re actually offended at the suggestion that it is. They are explicitly channeling Antonin Scalia and Mitch McConnell in defending the integrity of politicians who accept massive corporate money. As campaign finance reformer Zephyr Teachout wrote about a 1999 Supreme Court opinion authored by Scalia that “set the table for Citizens United“: “The Court suggests that using money to influence power through gifts is both inevitable and not troubling” — i.e., the 2016 argument of Clinton supporters.


https://theintercept.com/2016/04/14/to-protect-clinton-democrats-wage-war-on-their-own-core-citizens-united-argument/

BootinUp

(47,165 posts)
69. Sorry, but your argument makes no sense at all
Sat May 14, 2016, 04:01 PM
May 2016

Hillary has pledged to only nominate judges that will overturn Citizens United

Hillary has the tougher plan and smarter plan on Wall Street

You can't use arm waving to attack one persons credibility and not be asked for proof/evidence. Sorry.

pmorlan1

(2,096 posts)
70. Makes Perfect Sense
Sat May 14, 2016, 04:22 PM
May 2016

My argument makes perfect sense. It is you who are arguing that we must show quid pro quo to show the corrupting influence of money. That my friend is the argument that the majority made in the Citizens United decision. Scalia and the rest in the majority think there is only corruption if you can show quid pro quo. The liberal dissent on the court argued otherwise as do the Sanders supporters.

Your words:

The voters have heard this for months from Bernie himself, no evidence of

quid pro quo mind you

Arneoker

(375 posts)
94. Bottom line, what does her record show?
Sun May 15, 2016, 10:03 AM
May 2016

Well in the Senate it is largely the same as Bernie's. So if she is near as terrible as her detractors here claim, then why aren't we wondering about Bernie, whose Senate record is pretty similar?

Of course we can find questionable votes by both of them. I think that a lot of them can be explained well by context, but some are exercising double standards to the hilt in excoriating Hillary while excusing Bernie.

 

beedle

(1,235 posts)
8. Go to any large company
Sat May 14, 2016, 11:12 AM
May 2016

and ask what would happen to any employee, let alone a major executive, who went out and had anything that had even 1/1000000 the appearance of a 'conflict of interest'.

There would be no question at all that that employee or executive would be terminated, no other questions asked .. there would be no need to gather proof that the appearance of conflict actually resulted in a conflict, the very fact that there was an appearance of conflict of interest would be more than enough.

I go on annual courses and take annual tests to assure the company I work for that I understand this fact ... you will be terminated for even the appearance of conflict of interests ... DON"T DO IT.

In Washington politics there seems to be the exact opposite rule in place ... if you won't take bribes, then you're no good to anyone (of importance.)

 

hellofromreddit

(1,182 posts)
26. Yeah, even when I was at the bottom of the totem pole I had to sit through training about it.
Sat May 14, 2016, 12:15 PM
May 2016

Same thing with us: appearance of a conflict == conflict. Don't even be in the ballpark.

Buzz cook

(2,472 posts)
56. So you were warped by corporate group think.
Sat May 14, 2016, 01:33 PM
May 2016

Does that explain why you don't think evidence is important?

 

hellofromreddit

(1,182 posts)
59. Your attack is weak. I mopped floors.
Sat May 14, 2016, 02:02 PM
May 2016

Yes, they made the custodians sit through that shit.

We also had training on insider trading for some reason.

 

beedle

(1,235 posts)
73. It's not about 'evidence' of a crime
Sat May 14, 2016, 05:39 PM
May 2016

it's about the people you serve, your clients, having confidence in your integrity. It's about the most important thing a business can have, their reputation and the trust of the people they deal with.

I'm baffled as to why 3rd way establishment Hillary supporters are incapable of grasping the concept of integrity? Sorry, I take that back ... in the name of integrity it doesn't baffle me, I know full well that integrity is a meaningless word to Establishment politicians and their supporters.

Buzz cook

(2,472 posts)
80. Yup that's another republican talking point
Sun May 15, 2016, 02:13 AM
May 2016

It's about character.

I'm baffled by enthusiasts that claim their hobby horse is the only one worth riding.

I support Clinton for many reasons and I do not support Sanders for many reasons.

 

hellofromreddit

(1,182 posts)
84. Protip: you can make that point without the insults and lying.
Sun May 15, 2016, 07:14 AM
May 2016

Well, as long as your reasons are anything besides bullshit.

 

beedle

(1,235 posts)
98. Yes, and integrity obviously does not come into play in your calculation
Sun May 15, 2016, 10:55 AM
May 2016

funny how Clinton and her followers have so often found themselves on the wrong side of history, siding with Republican policies so often, and then turn around and insult others with claims of 'republican talking points'?

While Clinton actually holds the most Republican policies her fans claim that anyone pointing this out this 'lack of character' is using a 'Republican talking point".

Yeah, maybe you're right, calling Hillary's integrity into question is indeed a 'republican talking point', but it's a valid one ... progressives use that 'talking point' precisely because of its truth ... but at least progressives can tell the difference between a 'republican talking point' and a fucking 'republican policy'.

Buzz cook

(2,472 posts)
102. Integrity does come into play
Sun May 15, 2016, 03:26 PM
May 2016

Just not ideological purity.

I think Clinton has plenty of integrity. I also see little hard evidence from progressive that prove she lacks integrity, just belief not "truth".

But I also think she is smarter, more competent, a better administrator, more knowledgeable, better prepared and organized, and tougher than Sanders.

I also think there is barely a dimes worth of difference between Sanders and Clinton when it comes to ideology. Most people who claim Clinton's positions are republican haven't read her policy positions.

Sanders is ill prepared and slow on his feet when confronted with novel situation. This was brought home to me when he spoke at Liberty University. Not just because he wasted a chance to confront the right while he was in the belly of the beast, by giving his boiler plate stump speech. No it was his inability to cogently respond to the two questions after the speech. What is his position on abortion and what he planned to do to help black people. He didn't have an answer to either question and literally just dithered.

Hey I'm sure Sanders is on the right side with both issues, but think of it, a politician with decades of experience couldn't respond to two questions that are extremely important. I'm betting you could answer those questions on the fly.

PufPuf23

(8,793 posts)
14. There should be a transaction tax on the financial services industry.
Sat May 14, 2016, 11:34 AM
May 2016

The idea that politicians can take large sums of money from financial institutions and employees or owners of financial institutions and the politicians not be influenced in their legislation and regulation is absurd, especially absurd when the money is to personal accounts rather than campaign accounts.

This is compounded by regulatory capture and the revolving door between the financial industry, quasi-public but private institutions like the Fed and IMF, and lawyers that specialize in the financial industry and associated lobbying.

There are no prosecutions in the financial services industry because what the industry does is almost impossible to regular for various reasons and what is done is quasi-legal however unfair and immoral.

That is why I would recommend a tax on financial transactions.

The tax would be very small (say 3 to 5 basis point, a basis point is one one hundred of one percent).

There would be two direct effects:

1) Large amount of tax revenue.

2) More stable and fair financial markets.

Most of the activity in the various financial markets takes place in rapid trading using automated algorithms that search for arbitrage and are based upon price movement up or down rather than increased value of the securities. The automated program trades feed on market volatility. They benefit from imperfections and unequal access to the markets.

Definition: An arbitrage opportunity is the opportunity to buy an asset at a low price then immediately selling it on a different market for a higher price. http://economics.about.com/cs/economicsglossary/g/arbitrage.htm

The profits from arbitrage are marginal (on the order as what I suggested as a tax) but substantial because of the shear number of trades and allow those in the financial industry to daily bleed a profit margin. The strongest financial service firms with the best mathematicians and programmers reap a bonanza when there is unusual but sure to occur periods of high volatility.

 

JEB

(4,748 posts)
16. Pay me $200,000 dollars for a speech
Sat May 14, 2016, 11:50 AM
May 2016

and I'll stop bitchin' about the crooked fucking criminals on Wall Street calling all the shots. It really won't matter what I say.

procon

(15,805 posts)
22. As the Senator from New York, you want her to dismiss a huge part of her constituents?
Sat May 14, 2016, 12:03 PM
May 2016

Wall Street and the financial sector is a huge part of NY city's world class business community. They are, along with all the people they employ and the supporting businesses, are a large and important chunk of her constituency. They have clout and influence, just as any other large business section would in any other state in the country, and that guarantees them access to politicians. Nothing more, and there seems to be a great silence when it comes to actually documenting anything she did quid pro quo.

This has been standard practices for the past half century, and there hasn't been any big groundswell of interest for political reforms until the Citizens United case threw Pandora's Box wide open. If you don't like the current status quo, then you must first change the rules, not just complain about them.

You far, you seem to be looking for a way to support your own biases, but when the best evidence that you can come up with is broad generalities like, "it seems apparent", or "it looks awfully similar", and the "appearance of corruption". You understand these are only a point of view that reflects your personal opinions, yeah? So, yes, I'd have to tell you someone should talk you down, because it is completely unreasonable to let your fantasies replace reason.

 

hellofromreddit

(1,182 posts)
25. Make your argument without the insults.
Sat May 14, 2016, 12:12 PM
May 2016
So, yes, I'd have to tell you someone should talk you down, because it is completely unreasonable to let your fantasies replace reason.

TheDormouse

(1,168 posts)
35. An ex-Gov of NY, FDR, enacted Glass-Steagall, which Hillary opposes
Sat May 14, 2016, 12:29 PM
May 2016

And as far as I recall, Wall Street was in New York even back in the 1930s.

So that argument doesn't fly.

procon

(15,805 posts)
50. Hogwash.
Sat May 14, 2016, 01:11 PM
May 2016

For what it’s worth, Glass-Steagall only separated the banks that take your deposits, from the banks where tycoons can gamble with their wheeling and dealing bets. Bernie is narrowly focused on only on Glass-Steagall as in once was, even though it was the newer “shadow banks” like Lehman Brothers, that tanked the whole system when they failed. Those banks are not covered by the old Glass-Steagall laws as the type of rickety, high risk financial instruments they created didn't even exist back then. Clinton says Glass-Steagall alone will not be enough to rein in the big shadow banks.

I'd say this is an area where Hillary and Bernie can find common ground. Fine, put Glass-Steagall back in place like Bernie want, but also do what Hillary proposes and modernise it and update its provisions to include all the complex new financial products that get off by being mostly unregulated.

TheDormouse

(1,168 posts)
62. Explain why Hillary doesn't say
Sat May 14, 2016, 02:07 PM
May 2016

she will work to make the regulatory changes she has proposed for financial institutions PLUS bring back Glass-Steagall.

procon

(15,805 posts)
79. I'm not her archivist, a soothsayer, or a reader of tea leaves, but opinions, I got 'em.
Sun May 15, 2016, 02:10 AM
May 2016

I can't wrap my head around this Glass-Steagall litmus test that Bernie fans have come up with as a measure of whether a politician is “tough” on Wall Street; Bernie is a hero for reviving a depression era Glass-Steagall act, and when Hillary takes a more comprehensive approach, ergo she’s in the pocket of Big Banks. Its an enigma.

Bernie seems to hope that reinstating the outdated Glass-Steagall will fix everything, but it doesn't even touch the problems that created the recession, and doesn't even mention the shadow banking scams, so its just a feel-good proposal that wouldn't actually accomplish much.

Look, we currently have tough new restrictions in place via Dodd-Frank and Hillary is proposing still more restrictions that will target those institutions and financial instruments that are outside Glass-Steagall's regulatory framework. We'd get something that serves the same role, but updated to control the modern financial industry instead of one design almost a century ago.

I read Hillary'sdetailed policy position, and her plans are more extensive and more relevant to the current banking shenanigans, so they're the ones I support. I also gave some consideration to Elizabeth Warren's 5 point plan on what the next Democratic president should do about financial reform. Hillary's plan addresses 4 of the points, and Bernie's plan hit only 2.

TheDormouse

(1,168 posts)
65. Here's that ex-Govenor of NY talking about Wall St
Sat May 14, 2016, 02:12 PM
May 2016

We had to struggle with the old enemies of peace--business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering.

They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.

Never before in all our history have these forces been so united against one candidate as they stand today. They are unanimous in their hate for me--and I welcome their hatred.


Weren't the Wall St banks the constituents of NY's governor back in the '20s and '30s, just as much as they were the constituents of NY's senator in the '00s?

Bobbie Jo

(14,341 posts)
24. Because - All Things Hillary - have been exaggerated
Sat May 14, 2016, 12:09 PM
May 2016

to the point of ridiculousness.

At this point it has just become part of the noise of agenda driven "concerns."

 

hellofromreddit

(1,182 posts)
33. Well, that is a pretty good point.
Sat May 14, 2016, 12:21 PM
May 2016

There is such a tremendous amount of noise and sniping around here that every discussion starts to look like a slopfest in short order. There's already a pretty nasty fight higher up in this thread.

Jackie Wilson Said

(4,176 posts)
27. I have something to say that is liberal and pro Democrat, but as this is Democratic
Sat May 14, 2016, 12:15 PM
May 2016

Underground, I dont dare say it or I will be censored.

Jackie Wilson Said

(4,176 posts)
29. No point in a PM. I was hoping to use Democratic Underground to promote the idea
Sat May 14, 2016, 12:18 PM
May 2016

that we must vote against fascism, but that sentiment is not supported here by enough people to make it safe to say.

RufusTFirefly

(8,812 posts)
30. If you opposed the 2003 Iraq invasion, you supported Saddam
Sat May 14, 2016, 12:20 PM
May 2016

Same basic idea.

Unfortunately, the people who sound the alarm when a politician is in the pocket of Wall Street tend to be more nuanced in their thinking and thus are more likely to respond defensively when their legitimate concerns are branded as right-wing smears.

What we should be saying is, "Bull shit. If it looks like a duck and quacks like a duck..."

But alas, that's not how most of us who oppose warmongering Wall Street suckups work. That's also one of the reasons (aside from the obvious) that left-wing radio hasn't succeeded.

KPN

(15,646 posts)
42. As you can see, it is virtually unexplainable without just poo-pawing the questioner ...
Sat May 14, 2016, 12:40 PM
May 2016

and throwing out vague arguments about lack of quid pro quo evidence. Well, duh!! Why in the heck do these people think corruption is so rampant in Congress? Because they all can get away with it because it is "legal" ... just like the mortgage derivatives, insurance scheme and miniscule capital reserve requirements were "legal."

I suspect that most Hillary supporters would like to see the current big money influence removed from politics, but are too enamored with their candidate to criticize her on this -- so they accept it and in so doing condone it going forward.

Joob

(1,065 posts)
44. it's scary what she gets away with.
Sat May 14, 2016, 12:45 PM
May 2016

Her presidency would be a disaster because if she wins, she would know she could get away with anything.
It'd be Hillary on steroids.

EndElectoral

(4,213 posts)
45. The transcript issue is not petty. It's reflective of her fiscal policy going forward and leadership
Sat May 14, 2016, 12:45 PM
May 2016

If what she says in private to big corporate donors is at odds with what her stated public fiscal policies are then in fact it is a big issue, and for a candidate that preaches transparency it exemplifies her own hypocrisy.

Even more important it has revealed thus far an inability to lead. She has placed conditions that others must first be transparent before she will. In other words she is demanding others lead the way before she will even entertain it. It is like crossing a rickety bridge. She wants others to go across the bridge and potentially fall before she'll lead the way. It's quite revealing in terms of leadership choices.

MisterP

(23,730 posts)
52. Clinton's rewired the party into becoming one big protection mechanism for her
Sat May 14, 2016, 01:20 PM
May 2016

it makes any accusation against her personal for the defender--"oh, so you're afraid of STRONG WOMEN?! oh, so you're carrying water for BREITBART?! extremists are all the same!"

bjo59

(1,166 posts)
53. Apparently there is also little concern that the Democratic National Convention is being
Sat May 14, 2016, 01:22 PM
May 2016

co-hosted by lobbyists and corporate executives, including some who have donated and raised money for Republican presidential and congressional candidates this election cycle.

https://theintercept.com/2016/05/11/lobbyists-dnc-2016-convention/



(I didn't expect the video to embed - the link is to the intercept article, the video discusses that article and introduces all of the big players who Wasserman-Schultz brought on board to co-host the convention.)

Buzz cook

(2,472 posts)
55. "To me it seems apparent"
Sat May 14, 2016, 01:31 PM
May 2016

And that is why discussions like this aren't legitimate, because they are based on opinion rather than fact.

You're Obama comparison doesn't work because he is a DINO who signaled his intent to go easy on banks while he was still running in 2008. But of course it was Hillary that was the problem then and now because...reasons.


Granted, the speech transcripts thing is a bit petty,

No not petty, it is a deliberate attempt to defame by innuendo. Just as claims of corruption by association are.
It became evident early on that the contents of those transcripts were not important to the people demanding them. It was/is a win win, don't release and you are corrupt, release and we have a fishing opportunity and you're corrupt.


Between the apparent conflict of interest and the appearance of corruption,


Ah, there you have it. That was the reasoning that started the Whitewater investigations, the "appearance" of corruption. Oddly it was only to Clinton's enemies that the appearance was apparent to.

Basically most people who broach the topic are just being assholes, some of them politely some of them rudely, but still assholes.
 

Tierra_y_Libertad

(50,414 posts)
66. The perception of wrongdoing is often as damaging is the reality of wrongdoing.
Sat May 14, 2016, 02:19 PM
May 2016

And, the "perception" by many of us is that taking money from corrupt banks and corporations is "wrongdoing" for someone who is a candidate for president. Whether legal or not.

There are no facts, only interpretations. Friedrich Nietzsche

Interpretations differ.

Buzz cook

(2,472 posts)
81. And perceptions can be and are
Sun May 15, 2016, 02:28 AM
May 2016

manufactured.

One thing Sanders supporters are tone deaf to is that many of the things they criticize Clinton for are the same thing republicans have criticized Clinton for.
Further there is a host of documentation that the republican charges were and are false.

I invite you to read "the Hunting of the President" by Conason and Lyons.
https://books.google.com/books?id=tIEqNExC7_4C&hl=en

Here's a free edited version that foucuses on the Hillary sections from the book.
http://hillarybook.nationalmemo.com/

I'd like to point out that among the many things Clinton supporters like about Clinton is how strongly she has stood up to constant attacks and kept on fighting.

 

Hoyt

(54,770 posts)
57. Some of our best Presidents had connections to wall Street and were weak hy, FDR, JFK,
Sat May 14, 2016, 01:38 PM
May 2016

Johnson (civil rights and Medicare), for example. Fact is, most people work for corporations, we depend on them for food, investment brings jobs and tax revenue, etc. Laws should be toughened, but very few here would be better off living like in the he 19th century. I think I might like it, but a lot wouldn't.

Time for change

(13,717 posts)
74. I don't believe that the speech transcripts thing is petty at all
Sat May 14, 2016, 08:33 PM
May 2016

The conflict of interests that you discuss in the OP is very real indeed, and in my mind it is quite ominous.

The American people deserve to know more about that conflict of interests. Hillery's speeches to Wall Street probably contain a good deal of information on how she is going to handle the our economy. Is she going to favor the vast majority of her constituents, or is she going to favor the wealthy interests from which she receives so much money, both for her campaign and for her own personal use? I would think that the American people deserve to know what she said to them before they would consider voting for her. And if she isn't willing to share that with us, I can only reach one conclusion.

Beartracks

(12,816 posts)
76. IOKIYHRC?
Sun May 15, 2016, 12:52 AM
May 2016


Btw, I have yet to see a Hillary supporter respond to anything without "talking down."

Granted, I'm not here on DU day in and day out, but from my experience that is not an exaggeration.

=====================
 

w4rma

(31,700 posts)
78. To criticize Hillary Clinton is to criticize the Democratic Party. She is our "queen", you know.
Sun May 15, 2016, 01:57 AM
May 2016

Never mind that the "queen" constantly criticizes her "subjects" for questioning her judgement.

 

randome

(34,845 posts)
86. Every candidate has "ties to Wall Street".
Sun May 15, 2016, 08:05 AM
May 2016

If a candidate does not, he/she does not understand how the economy works and that's kind of important. And can you PROVE that no one with 'ties to Wall Street' (whatever that means) has not donated to Sanders' campaign?

What you really mean is how can you use this issue against Clinton. Right?
[hr][font color="blue"][center]Stop looking for heroes. BE one.[/center][/font][hr]

 

hellofromreddit

(1,182 posts)
88. "What you really mean is how can use this issue against Clinton. Right?"
Sun May 15, 2016, 08:09 AM
May 2016

I don't play that game. If you have a point, make it.

 

randome

(34,845 posts)
89. I made it: every candidate has some degree of a "tie to Wall Street".
Sun May 15, 2016, 08:21 AM
May 2016

And can you PROVE that Sanders has never received a donation by someone you would consider "too rich" or has some "tie to Wall Street"?

As for Clinton's speaking fees, those are standard fees for someone of her celebrity status, as witness Jerry Seinfeld and Lady Gaga getting paid similar amounts for speeches before Goldman Sachs.

Most of the money Clinton received went straight into the Clinton Foundation, which, despite it bearing her surname, is a public charity and not her personal piggy bank.
[hr][font color="blue"][center]Stop looking for heroes. BE one.[/center][/font][hr]

 

hellofromreddit

(1,182 posts)
90. Nobody can prove a negative.
Sun May 15, 2016, 09:48 AM
May 2016

Comparing a politician to entertainers does not hold water. Entertainers do not influence the law. Compare politicians to politicians.

Despite the CF being a public charity, it still is tightly associated with Clinton so the conflict of interest remains.

 

randome

(34,845 posts)
96. You're right, you can't prove a negative. Clinton's fees & contributions are well known, though.
Sun May 15, 2016, 10:18 AM
May 2016

But if the rich control us all -as some apparently want to believe- that surely applies to Seinfeld and Gaga. One could easily make the case that they have more influence on us than politicians since they can operate without the legal strictures that exist in public campaigns.

Assuming that any fees are bribes is where this becomes more of a conspiracy theory or sore-loserism than any attempt to discuss issues.

I also can't prove a negative. I can't prove that Clinton does not do the bidding of Wall Street. But I do note that more threads about Clinton are posted by Sanders supporters than threads about Sanders. The issues have been drowned out by the static about Clinton.
[hr][font color="blue"][center]Stop looking for heroes. BE one.[/center][/font][hr]

 

hellofromreddit

(1,182 posts)
97. I'm not sure where you're going with this
Sun May 15, 2016, 10:44 AM
May 2016
But if the rich control us all -as some apparently want to believe- that surely applies to Seinfeld and Gaga.

I disagree. Wealth certainly gives one the capacity to influence policy, but it still requires effort to do so. So paying an entertainer could give that entertainer the ability to then go influence policy, but it's not necessarily a given. And it certainly is not as direct as giving money directly to a politician. So comparing politicians to celebrities is still a giant stretch.

I'm not arguing that the speaking fees are proof positive that Clinton is corrupt. I'm only pointing out that it created a conflict of interest. Given that the Obama's administration apparently caved, I don't see how we can be so confident that a Clinton administration won't.

But I do note that more threads about Clinton are posted by Sanders supporters than threads about Sanders. The issues have been drowned out by the static about Clinton.

You're right, but that's here, not out in the real world. On-the-ground activists have enough work to do without wasting energy on hating Clinton, so they generally don't.
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