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portlander23

(2,078 posts)
Wed Oct 7, 2015, 07:38 PM Oct 2015

Sirota and Perez: Hillary Clinton's Wall Street Policy Being Shaped By Two Bankers

David Sirota and Andrew Perez: Hillary Clinton's Wall Street Policy Being Shaped By Two Bankers

Hillary Clinton's campaign is boasting that their candidate is being advised on Wall Street policy by a former Goldman Sachs executive and a current bank official -- and Clinton is now echoing the bank official's opposition to reinstating a law that many say is necessary to better regulate the financial industry.

According to a story in Politico -- tweeted out by Clinton's campaign spokesperson -- the Democratic presidential candidate has been getting input from former Democratic Rep. Barney Frank, who was appointed to the board of New York-based Signature Bank after leaving Congress.

The newspaper says Frank, one of the namesakes of the Dodd-Frank financial reform bill, has been working on the Clinton campaign's Wall Street policy with Gary Gensler, a former longtime Goldman Sachs executive who was appointed by President Obama to head the Commodities Futures Trading Commission.

Frank in recent months has made headlines opposing the push by some progressive lawmakers -- including U.S. Sens. Elizabeth Warren and Bernie Sanders -- to reinstate the Glass-Steagall Act, which was repealed by legislation signed by President Bill Clinton. Hillary Clinton said Tuesday she does not support reinstating that Depression-era law, which sought to keep commerical banks separate from investment banks.

Related:

Yahoo Politics: Hillary Clinton doesn’t support revival of Glass-Steagall Act

Democracy Now!: Robert Reich on Glass-Steagall and Bernie Sanders

Clinton: Cooperation, not speeches, is needed to regulate Wall Street
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Sirota and Perez: Hillary Clinton's Wall Street Policy Being Shaped By Two Bankers (Original Post) portlander23 Oct 2015 OP
K & R !!! WillyT Oct 2015 #1
A vote for Hillary is a vote for Wall Street deregulation and wealth inequality.[n/t] Maedhros Oct 2015 #2
She hasn't made this a priority of her campaign. At all. Bernie wins on this issue, no question. reformist2 Oct 2015 #20
UGH jkbRN Oct 2015 #3
Barney Franks is a "Banker"? 1StrongBlackMan Oct 2015 #4
Barney Frank, champion of financial regulations, joins a bank board beam me up scottie Oct 2015 #6
Joe Strummer said it best hifiguy Oct 2015 #10
LOL! beam me up scottie Oct 2015 #12
. Autumn Oct 2015 #17
LOL Oilwellian Oct 2015 #22
too funny! nt m-lekktor Oct 2015 #23
YAY!! Welcome back! octoberlib Oct 2015 #8
Or Gary Gensler, one of the toughest critics of Wall Street around, dubbed DanTex Oct 2015 #13
They certainly didn't underestimate sulphurdunn Oct 2015 #16
She knows Warren is correct but Bill won't let her say so tularetom Oct 2015 #5
He gave the repukes everything they wanted. hifiguy Oct 2015 #9
Everyone who is surprised by this stand on your head... hifiguy Oct 2015 #7
I think she is so freely given that they don't even have to bother with ownership TheKentuckian Oct 2015 #24
LOL. "Two Bankers." Do these people have the slightest clue? DanTex Oct 2015 #11
Barney Frank is now a banker using the Dodd-Frank Loophole to make sure big banks get DhhD Oct 2015 #14
And Sirota works for Bernie. JaneyVee Oct 2015 #19
Worked... past tense. Fawke Em Oct 2015 #27
The bi-partisan revolving door makes strange bedfellows Armstead Oct 2015 #21
This IS the REAL Hillary Clinton. 99Forever Oct 2015 #15
LOL. Gary Gensler is a Wall Street watchdog. And... JaneyVee Oct 2015 #18
LOL. Prior to his public service career, Gentler worked at Goldman Sachs. RiverLover Oct 2015 #25
. Fawke Em Oct 2015 #26
Sirota? RandySF Oct 2015 #28
Sirota is pretty hard core hard left riversedge Oct 2015 #29

jkbRN

(850 posts)
3. UGH
Wed Oct 7, 2015, 07:50 PM
Oct 2015

She is completely undermining the values of the Democratic Party. This kills any hope I had in her--although, it wasn't much.

DanTex

(20,709 posts)
13. Or Gary Gensler, one of the toughest critics of Wall Street around, dubbed
Wed Oct 7, 2015, 08:07 PM
Oct 2015

"Wall Street's archenemy" while he was head of the CFTC. As I posted below, when Hillary first hired him, there was speculation that she did it to placate critics on the left who said she was too close to Wall Street.

But whoever speculated that grossly overestimated the intelligence of Hillary haters.

 

sulphurdunn

(6,891 posts)
16. They certainly didn't underestimate
Sun Oct 18, 2015, 04:24 PM
Oct 2015

the credulity of Hillary lovers.

HRC major campaign contributors 2015

1. City Group
2. Goldman Sacs
3. DLA Piper (Wall St. law firm)
4. JP Morgan Chase
5. Emily's List
6. Morgan Stanley
7. Time Warner (owns CNN)
8. Skadden, Arps. et al (Wall Street's largest law firm)
9. Lehman Brothers
10.Cable Vision Systems

tularetom

(23,664 posts)
5. She knows Warren is correct but Bill won't let her say so
Wed Oct 7, 2015, 07:56 PM
Oct 2015

He's had to backtrack on DADT and DOMA, on the militarization of the police, and if he admits he was wrong about Glass Steagall, he has more or less conceded he fucked up everything he did.

 

hifiguy

(33,688 posts)
9. He gave the repukes everything they wanted.
Wed Oct 7, 2015, 07:59 PM
Oct 2015

And then some.

His presidency was a catastrophe for all but the 1%.

 

hifiguy

(33,688 posts)
7. Everyone who is surprised by this stand on your head...
Wed Oct 7, 2015, 07:58 PM
Oct 2015

She is OWNED by the banksters. Lock, stock and barrel. She will let them write any "regulations" and they will continue doing every insane greedhead thing they can think up until it all melts down again.

How can anyone who gives a shit about this country support her??

TheKentuckian

(25,029 posts)
24. I think she is so freely given that they don't even have to bother with ownership
Sun Oct 18, 2015, 07:29 PM
Oct 2015

the money just follows naturally.

DanTex

(20,709 posts)
11. LOL. "Two Bankers." Do these people have the slightest clue?
Wed Oct 7, 2015, 08:04 PM
Oct 2015

These "Bankers" have names. One of them is Barney Frank, former rep from MA, known among other things for the Dodd-Frank bill, which is the toughest financial regulation passed since the great depression.

The other one is Gary Gensler, former head of the CFTC, who received wide praise for his tough stance on Wall Street and in particular on expanding the CFTC to be more aggressive in regulating over-the-counter derivates. So much so that he was labelled things like "Wall Street's archenemy." When Hillary first hired Gensler, Politico published an article called "How Hillary Jilted Wall Street."

They even speculated that the reason for hiring Gensler was to placate her critics on the left about her supposed ties to Wall Street. But little did they know that Hillary haters are too ignorant to even know who Gensler is.

DhhD

(4,695 posts)
14. Barney Frank is now a banker using the Dodd-Frank Loophole to make sure big banks get
Sun Oct 11, 2015, 12:23 PM
Oct 2015

bigger. Did he go through a revolving door?

Gensler is a specialist at moving around and by-passing regulations:

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


Hillary Clinton is not speaking about the issues. America used to be a representative democracy. Who does Clinton represent? Not me, I am only a depositor with a small savings account.

Fawke Em

(11,366 posts)
27. Worked... past tense.
Sun Oct 18, 2015, 08:08 PM
Oct 2015

He hasn't worked for Sanders since 1999 or 2000.

He's worked for a number of politicians and news organizations since.

 

Armstead

(47,803 posts)
21. The bi-partisan revolving door makes strange bedfellows
Sun Oct 18, 2015, 05:22 PM
Oct 2015

"Frank will join former Sen. Alfonse D'Amato on the board. D'Amato was a Republican from New York who once chaired the Senate Banking Committee"

99Forever

(14,524 posts)
15. This IS the REAL Hillary Clinton.
Sun Oct 11, 2015, 12:38 PM
Oct 2015

Bought and paid for by Corrupt Banksters.




On the upside side, according to Camp Weathervane residents, the corrupt Republican members of Congress will happily work WITH her to "get things done."


Sounds like the perfect corporate trifecta.

 

JaneyVee

(19,877 posts)
18. LOL. Gary Gensler is a Wall Street watchdog. And...
Sun Oct 18, 2015, 04:33 PM
Oct 2015

Sirota works for Bernie Sanders.

Hoooooooow unbiiiiiiiiiiiased.

RiverLover

(7,830 posts)
25. LOL. Prior to his public service career, Gentler worked at Goldman Sachs.
Sun Oct 18, 2015, 08:02 PM
Oct 2015
Gensler's last role at Goldman Sachs was Co-head of finance, responsible for controllers and treasury worldwide.[13] In that capacity, he managed more than 500 people funding and accounting for a then-$250 billion enterprise. Gensler left Goldman after 18 years to enter public service,[14] when he was nominated by President Bill Clinton and confirmed by the U.S. Senate to be the Assistant Secretary of the Treasury.[7]


https://en.wikipedia.org/wiki/Gary_Gensler

riversedge

(70,299 posts)
29. Sirota is pretty hard core hard left
Sun Oct 18, 2015, 08:51 PM
Oct 2015

Don't think he hates Pres Obama but is very critical of 3rd way (bill Clinton) policies as I remember.

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