Monday, March 14, 2016

Which One Is Wall Street's Candidate?


Over the weekend, NBC News posed the question Who Does Wall Street Want to Be President? Short version: anyone but Trump. One guy, Asher Edelman, who spent 30 year on Wall Street buying and selling distressed companies, even backs Bernie-- but he runs a New York art gallery now. He emphasized that Bernie's economic program would bring tremendous buying power to working families and that he's "the only person out there who I think is talking at all about fiscal stimulation and banking rules that will get the banks to begin to generate lending again, as opposed to speculation." He's an outlier, of course and who Wall Street really wants is Hillary, the Culture of Corruption candidate.

At the nexus of politics and and money-- the place where Wall Street, K Street and Capitol Hill converge-- it's all about the Benjamins. And everyone understand the concept of "follow the money." The Finance Sector has given Hillary more money than anyone who has ever served in Congress (minus 2-term President Barack Obama). So far the Finance Sector has given her $40,988,045 and it is increasing so rapidly that she could well catch up to the $68 million they've given Obama after 7 years in the White House! As for this race alone, let's just look at which candidates the Securities and Investment industry favors with their checks:
Hillary- $18,716,991
Cruz- $12,205,100
Rubio- $10,230,194
Kasich- $1,770,750

So... pretty obvious who the predatory banksters want to see in the White House. They don't want Trump. They don't want Bernie. They'd be fine with the others but Hillary is the one they want most-- which should scare any Democrat who uses their brain to make decisions And bear in mind that $18.7 million up there, doesn't include the direct bribes that went into per own pockets-- the millions in so called "speakers fees" that have made her fabulously wealthy-- and fabulously beholden to the worst enemies of American families, the Wall Street banksters. After doing-- at best-- a mediocre job at the State Department, she and her husband earned $30 million in speakers fees in a year and a half. They've earned over $125 million in speakers' fees since the end of his presidency. Goldman Sachs alone gave her-- not her campaign, HER, $675,000 for 3 speeches. Come on! Wake up, Democrats! She is not your friend. She is Lloyd Blankfein's friend-- and he would like to turn your children into slaves. Friday, Common Dreams, in lieu of her releasing any of the transcripts of the speeches she was paid to give, reconstructed one of their own:
Thank you so much for this opportunity to address you. I hope it contributes in some way to helping to heal divisions and build a brighter future for all Americans.

We should all be very proud of the public servants you have provided for our great nation:

Treasury Secretary Robert Rubin [applause],
Treasury Secretary Henry Paulson [applause],
Senator Jon Corzine [applause],
Chicago Mayor and Obama Chief of Staff Rahm Emanuel [applause]

These great men, along with many others from Goldman Sachs, have served our country proudly. They brought to government the financial and management skills honed at Goldman Sachs-- skills that help our nation provide global leadership in finance, trade and economy development. We are all deeply indebted to you for that.

Let us speak frankly. This has been a very difficult period for our country and for the global economy. Financial excesses, promoted both by government inaction and by too much risk taken on by Wall Street, put our economy in jeopardy. Through careful regulations we've now removed those risks from our robust financial system and are growing steadily once again.

In our hour of need, the federal government provided badly needed capital to shore up our core financial institutions. Some derisively call it a bailout. I see it as an excellent investment. And now you've returned every penny... with interest. Well done! [applause]

Of course, Dodd-Frank is not perfect. I know that you are working hard with the administration to iron out the rough spots. That's a vital and necessary part of the process to make sure these new rules do not create unintended consequences that could interfere with the smooth running of our financial markets. We have to be sure that we don't inappropriately regulate derivative markets which are so vital for insuring risk. And we have to be certain that the increased capital requirements do not hinder lending to businesses large and small.

But, as you know very well, this legislation is important because it sends a signal to an uneasy American public that the economy is sound and heading in the right direction.

I realize there are some strident voices out there who want to extract revenge on Wall Street-- even to "occupy it." [laughter]

I can assure you I am not one of them. [applause]

No one sector of our economy should be ever be vilified. Childish taunts and slogans whether coming from the far left or the far right are entirely unproductive. Wall Street is fundamentally sound and our economy needs your skills and hard work.

I can assure you that as I seek ways to continue in public service, I will always help our country understand the vital role you play. We need to be in constant dialogue to make sure our financial markets and institutions are the finest in the world.

Furthermore, it is important for the American people to understand that we can't turn the clock back to re-instate outmoded policies like Glass-Steagall. This is not the 1930s. Breaking up the big banks is a nice slogan but totally inappropriate as American financial institutions compete with large integrated banks and financial firms from around the world.

Not only is big not inherently bad, but big is necessary in our globalized economy. [applause]

Similarly, we need to stay away from foolish new constraints like financial transaction taxes that would only drive investors away from our markets. Such ill advised "taxes of revenge" will move money away from our well-regulated markets and into market structures around the globe that are far more prone to irregularities. In the end such taxes will introduce more inefficiencies into our markets and make the global financial system far more volatile.

I also believe government and financial leaders need to work together to open up global markets for our financial industry. As Secretary of State, I've traveled to more than 100 countries. I know well how other nations support their key industries. We need to do the same. [applause]

This includes negotiating free trade agreements that level the playing field for American financial institutions. We need to reduce the unfair barriers to entry that you face as you try to provide products to restricted markets. The TPP, which I helped to push forward, is particularly important in opening up markets for U.S. financial services in the Far East.

Let me be candid about how we can move forward together. I am very interested in finding ways to continue to serve my country as I did as your Senator, and as Secretary of State. In the coming months we will be launching an exploratory committee to test the waters for a possible national campaign for the presidency.

To succeed I will need your support. I will need your creativity about how to expand economic growth and opportunity in our country. I will need help in crafting new policies and proposals to reduce financial risk, while providing our country with the capital and financial services it needs.

As we have done since I represented New York in the Senate, we will find ways to work together for the sake of our country. You are so much a part of what makes our financial system the soundest in the world. It will be an honor to work with you again.

Thank you for this warm reception and the public service you provide to our great nation. [standing ovation]
Putting Wall Street in its place means defeating Hillary or Cruz or Ryan or whichever conservative the GOP runs and electing Bernie-- and as many progressives backing Bernie's approach as possible. You can help do that right here, right now:
Goal Thermometer

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