David Dayen: Behind Closed Doors, Hillary Clinton Sympathized With Goldman Sachs Over Financial Reform


Excerpts of Hillary Clinton’s previously secret speeches to big banks and trade groups in 2013 and 2014 show her exalting the work of her hosts, hardly a surprise when these groups paid her up to $225,000 an hour to chat them up.

Far from chiding Goldman Sachs for obstructing Democratic proposals for financial reform, Clinton appeared to sympathize with the giant investment bank. At a Goldman Sachs Alternative Investments Symposium in October 2013, Clinton almost apologized for the Dodd-Frank reform bill, explaining that it had to pass “for political reasons,” because “if you were an elected member of Congress and people in your constituency were losing jobs and shutting businesses and everybody in the press is saying it’s all the fault of Wall Street, you can’t sit idly by and do nothing.”

Clinton added, “And I think the jury is still out on that because it was very difficult to sort of sort through it all.”

Clinton praised Deutsche Bank in a 2014 speech for “the work that the Bank has done in New York City on affordable housing.”

While Deutsche Bank has given to anti-homelessness campaigns in the past, it was also cited in a New York State Senate report in January for refusing to maintain foreclosed properties in New York City neighborhoods and costing those communities millions in unpaid fines. Deutsche is also about to face a multi-billion-dollar penalty from the Justice Department for defrauding investors with low-quality mortgage securities, leading to the housing meltdown.

Those excerpts were among many listed in an 80-page document prepared by the Clinton campaign, listing potentially damaging quotes from the Democratic nominee’s paid but at that point still secret speeches. The report landed in campaign chairman John Podesta’s email, which was hacked, and then posted by WikiLeaks last week.

In a November 2013 speech to the National Association of Realtors (NAR), Clinton pronounced herself proud to work with the trade group as a U.S. senator to “look for ways to help families facing foreclosure with concrete steps.”

NAR represents real estate agents, who had no authority to assist distressed homeowners. An April 2007 document lists NAR’s priorities in foreclosure mitigation, and they were able to get an amendment exempting mortgage debt forgiveness from being treated as earned income. But the rest amount to “urging” and “supporting” efforts to help homeowners that never happened.

Clinton has historically been far less critical of the revolving door between Wall Street and Washington than many other Democrats, and as secretary of state allowed two of her top aides — Tom Nides and Robert Hormats — to receive big payouts from their big-bank employers before entering public service.

“Thank you for lending me Tom Nides for the past two years,” Clinton said to a crowd at Morgan Stanley on April 18, 2013. As The Intercept reported in July 2015, Nides moved from chief operating officer at Morgan Stanley into Clinton’s State Department, and when Clinton left Foggy Bottom, Nides went right back to Morgan Stanley as a vice chairman.

Clinton joked about the “culture shock” for Nides, working a government job. “You should have seen his face when he learned there were no stock options at the State Department. But he soon not only settled in very nicely, he became positively enthusiastic when I told him we did have our own plane.” Clinton also gushed about Hormats, who joined her at State after a career at Goldman Sachs, in a 2014 speech at JPMorgan Chase………………..for the remaining article please visit https://theintercept.com/2016/10/11/behind-closed-doors-hillary-clinton-sympathized-with-goldman-sachs-over-financial-reform/


Download Hillary Clinton’s Paid Speech Flags: https://www.documentcloud.org/documents/3130829-HRC-Paid-Speeches-Flags.html

6 Responses

  1. … you are wrong!

    It doesn’t matter who hacked and leaked the speeches, but rather, it only matters who gave the speeches. No one from Russia gave those speeches, so get off the [very] thin argument you’re standing on, ok?

    If [Clinton] would come out and deny the accuracy of her leaked speeches, then maybe you could write what you wrote, but [crooked Hillary] won’t deny the speeches accuracy, so neither can you.

    You are repeating the exact wording put out by the democratic media on CNN … “If it came from Russia it must be inaccurate and isn’t worth reading” … except, it’s the truth, huh?

  2. @William

    …you’re believing too much of what you are told to believe. Are you ready to get into the content of those emails yet? Or the fact that Hillary had 33,000 emails deleted? Laws were broken, again and again. Do Chinese or Saudi contributions to the campaign have greater or lesser affect than you describe, even if it true of Russians, which I seriously doubt.

    Also, how is it you supported TBTF banks anyway? They don’t deserve squat. And, what we’ve seen in the last decade is NOT how America works.

    Might I suggest you first not believe anything in the press this month.

  3. While I don’t like the way wall street has acted, and supported banks that are too big to fail, it is important to remember that these speech excerpts were leaked by Russian hackers. They may or may not be accurate and truthful. To glorify this is to allow a foreign government to attempt to influence our election process. This is not how America works.

  4. Right on Roger!

  5. Reblogged this on Deadly Clear and commented:
    What’s ahead of us is frightening. Politicians do not have a clue about the damage they’ve allowed. How many of them are just as out of touch with the middle class – or what’s left of us, as Hillary Clinton? There are good guys and there are bad guys. It’s pretty obvious Hillary is not on the good guy list.

    It appears the majority of Americans feel our country has gone in the wrong direction for quite some time. The government is run like a fraternity party. It’s a free for all for the club members. The members thrive on perks and benefits derived from the membership and no one outside of the fraternity matters – because the members come first and are above law.

    It’s time government were run by and for the people it serves. Needless to say we’d all fire an employee that deleted thousands of company emails – especially after the DOJ issued a summons. It should be disconcerting that anyone would opening say she wanted to “drone” (aka kill by drone… yes they can do that) another individual that has provided the public with email conversations that make disparaging remarks about Catholics, as well as Evangelicals made by her campaign, and releases speeches that she made to the same banksters that have ripped this country apart…among other issues that were meant to be hidden from the public – to our detriment.

    You know, personally some of Trump’s statements offend me or at least make me cringe. However, hardly a CEO I’ve ever worked for or with hasn’t made some off color, politically incorrect statements at one time or another – but you know what? I still trusted them and they ran great businesses that even today aren’t in trouble like the banks. I’d take any of them to run our country because I’d rather have strength, honesty and reality – than hawkish hypocrisy and deceit. Swear like a sailor – but NEVER ever lie to me.

  6. Hillary sucks.

Contribute to the discussion!

%d bloggers like this: