Hillary Clinton speaks to the plutocrats

Hillary Clinton in 2013 received $1.8 million in speaking fees from Wall Street banks and investment firms—$675,000 from Goldman Sachs alone.

HIllary Clinton

HIllary Clinton

Her husband Bill has received $7.7 million from speeches to banks in the past 15 years.  In all, CNN reported yesterday, the Clintons have received $153 million over the years in speaking fees to various groups.  That’s more than many middle-class people make in a lifetime.

Here is CNN’s breakdown of Hillary Clinton’s Wall Street speaking fees, all in 2013.

  • Goldman Sachs, three speeches, $675,000 total
  • Bank of America / Merrill Lynch, two speeches, $485,000 total
  • UBS (a Swiss bank), one speech, $225,000
  • Morgan Stanley, one speech, $225,000

Here is the breakdown of Bill Clinton’s Wall Street fees, over a period from 2001 to 2014.

  • Goldman Sachs, nine speeches, $1,550,000
  • UBS, nine speeches, $1,690,000
  • Bank of America / Merrill Lynch, four speeches, $770,000
  • Citicorp, four speeches, $700,000
  • Morgan Stanley, one speech, $225,000

Clinton’s defense of her $200,000-plus speaking fees is that (1) everybody takes them and (2) nobody asked her for anything in return for the fees except the speeches themselves.

It’s true enough that almost all politicians, especially those concerned with financial legislation, take money from Wall Street.  That is why Wall Street has a lock on economic policy.

I know of no evidence that Clinton or her husband received a direct bribe.  That’s not how things work.  And I don’t claim that she follows the dictates of Wall Street in every respect.  That’s not how things work either.

But these rich bankers and speculators would not pay out millions of dollars except out of gratitude for past actions and anticipation for future actions.

I doubt that Hillary Clinton would ever do anything that threatened her benefactors.  I’m sure that they are confident she won’t.

LINKS

$153 million in Bill and Hillary Clinton speaking fees, documented, by Robert Yoon for CNN.

Why Clinton can’t stop raising money from Wall Street by Ben White for POLITICO.

Wall Street has made Hillary Clinton a millionaire by Heather Long by Heather Long for CNN.

What’s Wrong With Goldman Sachs? by Jake Zamansky for Forbes.

What Bank of America actually did wrong by Bonnie Binnock for National Mortage News.

How Citibank’s Culture Allowed Corruption to Thrive by Adam Waytz for Northwestern University’s Kellogg School of Management.

Bank settlements won’t deter Wall Street wrongdoing by Jonathan Berr for CBS.

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3 Responses to “Hillary Clinton speaks to the plutocrats”

  1. Joshua Chacon Says:

    Thank you Phil! I just read an article in the Nation titled “Clintonomics failed”, where it mentions how Robert Rubin, the hedge fund treasury secretary, during the Clinton years , informed people believers that the rich “are running the economy and make the decisions about the economy”, so its just a microcosm that Hilary goes around giving speeches to the masters of money. As Hilary once told interviewer Katie Couric, she “was dead broke” after eight years in the White House

    Like

  2. Fiddlin Bill Says:

    That “dead broke” comment is absurd and also galling. Clinton is at present the obvious “safe” candidate for the monied–Wall Street and corporate and “made” politicians, et al. Trump is a loose cannon, as is Cruz. Bernie is running against the whole “established” order. Of course the Clintons are raking it in. The longer run question is, how will the voting public feel after four or eight more years of Clintonomics. Will America eventually vote in fascism in utter frustration? And what then? It sure as hell didn’t work out so well for Germany, Italy, or Japan. See Rossellini’s “Germany Year Zero,” part of the Open City triology, filmed in the ruins of Berlin.

    Like

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