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2016 Postmortem
Related: About this forumHillary Clinton Is Winning the Race for Wall Street’s White House Cash
Hillary Clinton Is Winning the Race for Wall Streets White House CashMax Abelson and Jesse Hamilton
Bloomberg
October 16, 2015
Hillary Clinton has said shed prefer to find other ways to regulate the banks besides breaking them up. Wall Street donors are showing their appreciation.
The Democrats campaign is collecting more cash from employees of the six biggest U.S. banks than any other presidential candidate, adding more than $155,000 last quarter to more than $300,000 from earlier this year. She beat Republican rival Jeb Bush, who got at least $390,000 from the bankers over the last two quarters, even though he worked among them last decade.
One serious approach being advocated is to pass an updated Glass-Steagall Act, separating commercial and investment banking, to reduce the size of the banks and the risk of a taxpayer bailout, she wrote in an opinion piece published by Bloomberg View last week. I certainly share the goal of never having to bail out the big banks again, but I prefer the path of tackling the most dangerous risks in a different way.
Her rivals have said otherwise.
If an institution is too big to fail, it is too big to exist, Vermont Senator Bernie Sanders said in May as he filed a bill to break up lenders including Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase & Co. Former Maryland Governor Martin OMalleys Open Letter to Wall Streets Megabanks in July demands that they apologize for the 2008 financial crisis and thank taxpayers for
their bailouts.
The fundraising numbers filed Thursday with the Federal Election Commission do not include super-PAC contributions. Employees of the big U.S. banks have given more to Right to Rise USA, the super-PAC supporting Bush, than to Priorities USA Action, which backs Clinton.
Clinton has also made inroads on Wall Street. Shes brought in hundreds of thousands of dollars for the Clinton Foundation by giving speeches to firms including Citigroup and Goldman Sachs.
Shes argued that a big threat to the financial system is shadow banking, associated with firms including asset managers and money-market funds. A Clinton White House chasing that sector could answer a big Wall Street complaint since the 2010 financial overhaul: Regulations squeeze banks while leaving some rivals untouched. Goldman Sachs researchers said this year that shadow banking could grab $11 billion in annual profits from old-school lenders.
JPMorgan Chief Executive Officer Jamie Dimon called out increasingly sophisticated shadow banks in a letter to shareholders last year. He wrote that regulators should and will be looking at them, too.
The Democrats campaign is collecting more cash from employees of the six biggest U.S. banks than any other presidential candidate, adding more than $155,000 last quarter to more than $300,000 from earlier this year. She beat Republican rival Jeb Bush, who got at least $390,000 from the bankers over the last two quarters, even though he worked among them last decade.
One serious approach being advocated is to pass an updated Glass-Steagall Act, separating commercial and investment banking, to reduce the size of the banks and the risk of a taxpayer bailout, she wrote in an opinion piece published by Bloomberg View last week. I certainly share the goal of never having to bail out the big banks again, but I prefer the path of tackling the most dangerous risks in a different way.
Her rivals have said otherwise.
If an institution is too big to fail, it is too big to exist, Vermont Senator Bernie Sanders said in May as he filed a bill to break up lenders including Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase & Co. Former Maryland Governor Martin OMalleys Open Letter to Wall Streets Megabanks in July demands that they apologize for the 2008 financial crisis and thank taxpayers for
their bailouts.
The fundraising numbers filed Thursday with the Federal Election Commission do not include super-PAC contributions. Employees of the big U.S. banks have given more to Right to Rise USA, the super-PAC supporting Bush, than to Priorities USA Action, which backs Clinton.
Clinton has also made inroads on Wall Street. Shes brought in hundreds of thousands of dollars for the Clinton Foundation by giving speeches to firms including Citigroup and Goldman Sachs.
Shes argued that a big threat to the financial system is shadow banking, associated with firms including asset managers and money-market funds. A Clinton White House chasing that sector could answer a big Wall Street complaint since the 2010 financial overhaul: Regulations squeeze banks while leaving some rivals untouched. Goldman Sachs researchers said this year that shadow banking could grab $11 billion in annual profits from old-school lenders.
JPMorgan Chief Executive Officer Jamie Dimon called out increasingly sophisticated shadow banks in a letter to shareholders last year. He wrote that regulators should and will be looking at them, too.
Related:
Lobbyist: Hillary Clinton will become Mrs. Wall Street if shes elected
Hillary Clinton Lets Big Banks Off the Hook for Financial Crisis
WaPo: Clinton defends bankruptcy vote from Senate career, saying Biden played a role
Wall Streets favorite myth just got busted: The rise of shadow banking and the fall of GE Capital
Colbert: Clinton to Banks- Cut it out!
MATT TAIBBI: Hillary Clinton's Take on Banks Won't Hold Up
Robert Scheer: Go Ahead, Back Hillary Clinton and Forget All About Her Record
Robert Reich: The Big Banks Need to Be Broken Up
Paula Dwyer: Clinton's plan on Wall Street protects husband's legacy
Sirota and Perez: Hillary Clinton's Wall Street Policy Being Shaped By Two Bankers
Yahoo Politics: Hillary Clinton doesnt support revival of Glass-Steagall Act
Clinton: Cooperation, not speeches, is needed to regulate Wall Street
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Hillary Clinton Is Winning the Race for Wall Street’s White House Cash (Original Post)
portlander23
Oct 2015
OP
BlueStateLib
(937 posts)1. Breaking up U.S.A. banks would be great for China
RiverLover
(7,830 posts)2. Bill Clinton opening up China to US Trade was good for them. WTO. Glass-Steagall would just protect
US from having to bail out banks again because they are "too big to fail" and engage in legalized gambling.
What would be good for China is another Clinton in the WH again.
stonecutter357
(12,697 posts)3. Hillary Clinton Is Winning the Race
good