At a New Hampshire Town Hall on Wednesday night, Hillary Clinton claimed that Goldman Sachs/Wall Street is not donating to her campaign anymore, implying that they know just how tough she will be on them and won’t support her anymore.
That’s a big lie.
That huge bonanza is still pouring in. Big time. According to FEC reports, Hillary has received $21.4 million from the financial and insurance industry — almost 15% of the total $157.8 million she raised. And she’s still trolling them for big money. Last week, she left Iowa to attend a hedge fund money raiser in Philadelphia. She has several other Wall Street fundraisers scheduled, but postponed them until after the New Hampshire primary. The optics wouldn’t be too good while Bernie is raising the issue.
But she’ll be back when she thinks no one is looking.
It’s worth noting that Hillary has received a total of $41 million in campaign money from those same folks since she first ran for the Senate in 2000. And the money keeps pouring in.
But it is not just campaign money that Wall Street send her way. They take care of the Clintons personally, too. Since 2013, Hillary has raked in about $3 million in Wall Street speeches.
The $625,000 Goldman Sachs Speeches
Hillary claimed that she took $625,000 in fees from Goldman for 3 speeches since she left the Secretary of State’s office in 2013 because “that’s what they offered.”
That’s what they offered?
No, that’s what she demanded. That’s the regular — and outrageous — speaking fee her agent listed. Ten other big banks handed over the same fee. Are we supposed to believe that they each came up with the same outrageous amount on their own? No, that was the price of admission.
And it was a good investment for Goldman Sachs. They know they’ll get a good return on it. In one of her pricey speeches to the Wall Street powerhouse, Hillary soothed the friendly bankers, saying “we’re all in this together.” For Hillary, it’s all in the family. Goldman Sachs Chairman Lloyd Blankfein is an investor in Chelsea’s husband’s hedge fund. Marc Mezvinsky used to work for Goldman.
And Bill cleaned up, too. According to the Associated Press, “during Hillary Clinton’s time as secretary of state, Bill Clinton earned $17 million in talks to banks, insurance companies, hedge funds, real estate businesses, and other financial firms. Altogether, the couple are estimated to have made over $139 million from paid speeches.”
So the Clintons are no stranger to Goldman and Wall Street. In fact, the Clinton Foundation even rented office space from them at one point. That’s what friends are for.
Just to help out, though, Goldman’s Blankfein called Bernie Sanders “dangerous” on CNBC last week. He knows who he can count on.
What Will Wall Street Get in Return?
The central reform that populists want to impose to stop the big bank gravy train is the reinstatement of the Glass-Steagall Act prohibiting banks from using federally insured deposits to make risky investments. Hillary opposes reinstatement of the prohibition, which was repealed in 1999 when her husband signed the necessary legislation. That repeal opened the floodgates for the bank speculation and enabled Goldman to have a very profitable IPO at the same time as the repeal was passing. It’s also blamed for the 2008 crash. And, as Elizabeth Warren has pointed out, Hillary sided with the big banks on bankruptcy reform, she’ll be there for them again.
Hillary: Every Secretary of State And President Does It
Hillary’s campaign has come up with a new, but highly unconvincing, talking point on her speaking fees. Barbara Boxer floated it a few days ago and Hillary repeated it at the Town Hall. Time to try another one. That one won’t fly. She told Anderson Cooper that every President and Secretary of State makes large speaking fees. But as Cooper retorted, those people were not running for President.
But she was.
Then came her next big lie: she wasn’t sure that she would run for President.
Does anyone on earth really believe that she wasn’t running for President? The only reason she didn’t announce her candidacy was so she could grab those big fees. And the only reason for the big fees is that she might be President. That’s what all the coyness was about.
Hillary lied again and again at the Town Hall and she did it will great arrogance. She seemed extremely irritated that anyone would dare to challenge her. How dare anyone question her motives!
The late New York Times writer William Safire got it right twenty years ago — Hillary Clinton is, as he said, a “congenital liar.” She hasn’t changed.