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Purveyor

(29,876 posts)
Thu May 19, 2016, 11:50 AM May 2016

‘Risky’ Shadow Banks Put Millions Into Clinton's Campaign

Hillary Clinton has vowed to be tougher on Wall Street than any other presidential candidate, but that hasn’t stopped the financial industry from sending a flood of cash to help elect her.

That includes segments of finance she has singled out for greater oversight in her plan to rein in "shadow banking," where financial companies act like banks without being regulated like them. Hedge funds, private equity and insurance executives, who could face greater oversight under the plan, have given a combined $24.9 million to Clinton and the super-PACs supporting her, a Bloomberg review of campaign finance records shows.

Throughout her campaign, Clinton has taken a hard line on Wall Street interests. She came out in favor of the Commodity Future Trading Commissions’ efforts to prevent hedge funds and other traders from excessive speculation in oil and metal markets. She also endorsed a Labor Department rule that seeks to rein in biased investment advice from brokers who handle retirement accounts. The finance industry has lobbied aggressively against both regulations.

Those positions, however, haven’t been enough to beat back criticism that she’s too close to the industry. Bernie Sanders, her opponent, has made tightening bank regulations a centerpiece of his campaign, and he has repeatedly attacked Clinton for lucrative speeches she gave to Wall Street firms following her tenure as U.S. Secretary of State.

Marc Lasry, a longtime Clinton donor and chairman of hedge fund Avenue Capital Management, said that Clinton’s Wall Street contributors view her as reasonable and unlikely to take policy positions that aren’t feasible.

more...

http://www.bloomberg.com/news/articles/2016-05-19/shadow-banks-clinton-flags-as-risky-put-millions-into-her-run

6 replies = new reply since forum marked as read
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‘Risky’ Shadow Banks Put Millions Into Clinton's Campaign (Original Post) Purveyor May 2016 OP
I'm Faux pas May 2016 #1
Just a repellent politician FlatBaroque May 2016 #2
I'm guessing Faux pas May 2016 #3
From Goldwater Girl to Goldman Sachs shill... NewImproved Deal May 2016 #4
"Clinton has vowed to be tougher on Wall Street than any other presidential candidate" MisterP May 2016 #5
All are conflicts of interest felix_numinous May 2016 #6

MisterP

(23,730 posts)
5. "Clinton has vowed to be tougher on Wall Street than any other presidential candidate"
Thu May 19, 2016, 12:59 PM
May 2016

soon someone will post about how DARE they not take her at her word!

she said it, they believe it, that settles it

felix_numinous

(5,198 posts)
6. All are conflicts of interest
Thu May 19, 2016, 01:17 PM
May 2016

that should disqualify a candidate from being considered trustworthy enough to lead the country. We either respect the laws of the land, or we don't--and laws created to self serve the 1% must be questioned for legitimacy.

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