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Member since: 2002
Number of posts: 12,875

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Hillary Clinton aides' Wall Street links raise economic policy doubts


Hillary Clinton aides' Wall Street links raise economic policy doubts (headline)
Tom Nides and Robert Hormats, once of Morgan Stanley and Goldman Sachs, are veterans of the revolving door between Washington and the financial sector(subheadline)

The former aides, Tom Nides and Robert Hormats, have shuttled between government and Wall Street for years. Nides, who is frequently described as a Clinton confidant, is a longtime Morgan Stanley executive who served as deputy secretary of state for management and resources from 2011 to 2013 before returning to Morgan Stanley. Nides is also the former chairman of the Securities Industry and Financial Markets Association (Sifma), the main lobbying group for Wall Street in Washington DC.

Hormats, a former vice-chairman of Goldman Sachs, served as under secretary of state for economic growth, energy and the environment from 2009 to 2013. He is currently vice-chairman of Kissinger Associates, the consulting firm founded by the former secretary of state Henry Kissinger.

Neil Sroka, a spokesman for the progressive advocacy group Democracy for America, expressed his angst about the influence of the two in Clinton world. “It’s hard to imagine how a presidential candidate is going to seriously confront the powerful, greed-driven interests on Wall Street when they’re taking advice and staffing cabinet posts with people who just clocked out of the same big banks and investment firms that made bundles from wrecking our economy,” Sroka said.

Both Nides and Hormats have a strong history of taking pro-business stances on financial regulation and other issues near and dear to progressives. While at Morgan Stanley, which received a federal bailout, Nides pushed for the Obama administration to “find the right balance” in avoiding criticism of Wall Street in the aftermath of the financial crisis. He also played an important role in the Bill Clinton administration lobbying members of Congress to vote for Nafta in 1993.

The Clintons' voluminous baggage goes back decades & it's documented.

Interesting that the Republicans pushing on the email investigation and missing emails have not, as far as I've seen, mentioned the similarity to the missing Whitewater documents. That was some 20 years ago, so younger posters probably never heard of this, but I have no doubt that GOP oppo research team is drooling to throw this at HRC should she win the primary.
Republicans on the special Senate Whitewater committee released a report from the Federal Bureau of Investigation today showing that the fingerprints of the First Lady, Hillary Rodham Clinton, were found on records discovered in the White House family quarters two years after they were first sought by investigators.

Those Whitewater documents had been subpoenaed from HRC and for 2 years she stoutly claimed she had absolutely no idea where they were. Then they were found on a table in the first family's private quarters - just outside the door to HRC's office. And she again disavowed any knowledge of how they got there.

It was so painful and ugly, for me as a Democrat who had worked for Bill's election and even been a guest at his first inauguration, to go through all the years of investigations and embarrassing results thereof. If she's the Dem. nominee, we will all have to go through months and months of rehashing this yet again. Horrifying to contemplate. If the Clintons had come clean and cooperated with the Whitewater investigations, as your post mentions they were recommended to do, Ken Starr would never have gotten around to Monica Lewinsky.
In January 1998, Starr suddenly requested and received permission to expand his investigation again. The new area of inquiry: whether Clinton and his close friend Vernon E. Jordan Jr. encouraged Monica Lewinsky to lie under oath about whether she had an affair with the president. http://www.washingtonpost.com/wp-srv/politics/special/whitewater/whitewater.htm

Ted Koppel did a masterful Nightline report on the whole incident. Here's a link to the transcript of Ted Koppel's coverage of this nightmare. HRC is caught in mis-statement after mis-statement after mis-statement and keeps trying to spin and twist her way out of it. http://www.pbs.org/wgbh/pages/frontline/shows/clinton/etc/01301996.html
The Whitewater Lost And Found Records
January 30, 1996
Correspondent: Chris Bury
Anchor: Ted Koppel

Announcer: January 30th, 1996.

TED KOPPEL (VO): The accusation? Obstruction of justice, knowingly withholding subpoenaed documents. The location? A book room on the third floor of the White House, a room in the first family's private quarters. One clue? A White House log handed over today with the names of all the people who might have had access - from Mrs Clinton's chief of staff, to Chelsea Clinton's friends, to dignitaries visiting the President. Tonight, the mystery of the lost and found records.

ANNOUNCER: This is ABC News Nightline. Reporting from Washington, Ted Koppel.

TED KOPPEL: Almost exactly two years ago, a subpoena was issued for some billing records from the Rose Law Firm in Little Rock, Arkansas. These are records that go back about 10 years or so and that would, it was believed, shed some light on how much work attorney Hillary Clinton did on a particular real estate deal, and for whom she did that work. For the better part of these last two years, those records could not be found. Then, seemingly out of nowhere, they turned up earlier this month in the office of a woman named Carolyn Huber. What turned that into a major story is that Ms Huber works at the White House, and that she says she found the billing records in the private quarters of the first family - found them, in fact, last August, right outside Mrs Clinton's private office - didn't know what they were, packed them up, didn't realize what they were until a couple of weeks ago, when she was tidying up her own office. If someone has been deliberately concealing those records, that would be a federal crime. The White House says that a surprisingly large number of people actually had access to the Clintons' private quarters last August We'll tell you more about that later, but we want to use most of our time this evening to put this latest development into context. We begin by taking something both the President and the first lady have said recently.

CHRIS BURY, ABC NEWS (VO): The President and Mrs Clinton complain that the questions keep changing, but the controversies over Whitewater and the Travel Office have stayed alive, in large part, because the answers keep changing, too.

CHRIS BURY (VO): On January 15th, Mrs Clinton told a radio interviewer all documents had been released. Five days later, the White House issued a statement to The New York Times saying that wasn't quite true. On Castle Grande, Hillary Clinton's legal work for a land deal regulators describe as fraudulent: in May 1995 she told the Resolution Trust Corporation, quote, 'I don't believe I knew anything about any of these real estate parcels and projects.' But after billing records showed Hillary Clinton had at least 14 conversations with Seth Ward, the major player in the deal, Mrs Clinton told Barbara Walters she knew the project by another name.

HILLARY CLINTON: ('20/20,' January 19, 1996) And so when I was asked about it last year, I didn't recognize it, I didn't remember it. The billing records show I did not do work for Castle Grande. I did work for something called IDC, which was not related to Castle Grande.

CHRIS BURY (VO): That is not how Susan McDougal, the Clintons' former business partner, remembers it.
SUSAN MCDOUGAL: It was always the same thing. As far as I know, IDC and- and- and Castle Grande were one and the same.

Federal Judge Rules PA 3rd Party Candidate Requirements Unconstitutional

Source: Pittsburgh Post-Gazette

July 24, 2015 1:56 PM
(Sub headline)Until this morning, Pennsylvania required a minor-party candidate for statewide office -- like Ralph Nader in 2004 -- to garner many more signatures than their Democrat or Republican counterparts.

By Chris Potter / Pittsburgh Post-Gazette

A federal court judge has ruled that Pennsylvania's Election Code sets an unconstitutionally high bar on third-party political candidates, by requiring them to gather more signatures than Democrats or Republicans — and by having to defend their validity in court.

"The ability of the minor parties to organize and voice their views has been decimated" by the combined impact of Election Code provisions, U.S. District Judge Lawrence Stengel of the Eastern District of Pennsylvania ruled this morning. State law "imposes a severe burden" on the three minor parties who challenged the law: the Constitution Party, the Libertarian Party, and the Green Party.

The ruling means that the Pennsylvania legislature will have to "go back to the drawing board" and redraft ballot requirements for minor-party candidates, said Oliver Hall, an attorney at the Washington, D.C.-based Center for Competitive Democracy. Mr. Hall has represented the parties since the legal dispute began, in a separate case, in 2009.

Pennsylvania requires a minor-party candidate for statewide office to garner petition signatures equal to 2 percent of the total vote count in the prior statewide election. In 2014, the requirement was 16,639 signatures, though the number has ranged as high as 67,070 voters in 2006. By contrast, Democratic and Republican candidates are only required to furnish 2,000 signatures to earn a spot on the ballot for their Spring primary. The winner of that contest is automatically guaranteed a ballot spot in November.

Read more: http://www.post-gazette.com/news/politics-state/2015/07/24/Federal-judge-rules-Pa-third-party-candidate-requirements-unconstitutional/stories/201507240230

"Hillary Clinton attends Fox Chapel fundraiser as poll numbers sag"

There are 2 competing newspapers in the Pittsburgh/southwestern PA area. One is the conservative Tribune-Review, long owned and subsidized by the recently deceased billionaire, Richard Scaiffe. Scaiffe endorsed HRC in 2008, and donated to the Clinton Foundation, and Bill Clinton gave the eulogy at Scaiffe's memorial service. The other paper is the traditionally Democratic leaning Pittsburgh Post-Gazette. I've given links to both articles.

The conservative Trib was at the fundraiser, interviewed many of the guests and had lots of pictures of HRC both outside and inside the estate. The Post-Gazette? An old photo of Clinton from last May in Las Vegas, a photo of the backs of cars lined up on a road awaiting entrance to the estate (along with a caption,"Cars line up on Hawthorne Road from Fox Chapel Road, heading to a private fundraiser this morning for Hillary Clinton. Security personnel said only invited guests were allowed down the street during the event.") and a picture of HRC with a handicapped young man, provided to the Post Gazette by his father, who would have been required to donate $2700 for having his son's photo taken w/HRC. The PG article stated the event was closed to the press. It seems the conservative/Scaiffe paper was allowed to attend the event, while the Democratic paper was frozen out. Do read the comments of the readers to both papers. There are some very harsh and nasty opinions of HRC there. They substantiate the prediction that if HRC is the candidate, she will increase the turnout of Republicans who harbor very negative (to put it mildly) feelings for her.

From the Trib:
(Headline) "Hillary Clinton attends Fox Chapel fundraiser as poll numbers sag"

Hillary Clinton made a quiet entrance into a private fundraiser Wednesday as her motorcade pulled into the driveway of a Fox Chapel home about 10 miles northeast of Downtown Pittsburgh. The “Conversations with Hillary” fundraiser, expected to draw about 100 to 125 attendees, requested a minimum contribution of $1,000 per person, according to the email invitation Clinton's campaign finance team issued.

Clinton's fundraising blitz comes as a new Quinnipiac University Swing State Poll shows her numbers sagging in several key states and her favorability falling. Guests shelling out $2,700 get a photo with Clinton. Individuals who bundle supporters to raise $10,000 become event co-hosts. For $27,000, they get to be event hosts and secure membership in the campaign's Hillstarters program.

Released Wednesday, the poll of registered voters suggests Republican contenders Sen. Marco Rubio of Florida, former Florida Gov. Jeb Bush and Wisconsin Gov. Scott Walker all lead Clinton in Colorado, Iowa and Virginia in potential head-to-head matchups. She led all three in an April 9 Quinnipiac poll. Voters' favorability was below 50 percent in all three states: 35 percent in Colorado, 33 percent in Iowa and 41 percent in Virginia.

“Hillary Clinton's numbers have dropped among voters in the key swing states of Colorado, Iowa and Virginia. She has lost ground in the horserace and on key questions about her honesty and leadership,” said Peter A. Brown, assistant director of the Quinnipiac University Poll. “On being a strong leader, a key metric in presidential campaigns, she has dropped four to 10 points depending on the state and she is barely above 50 percent in each of the three states.” Later Wednesday, Clinton is scheduled to attend a fundraiser at a home in Raleigh, N.C.

Read more: http://triblive.com/politics/politicalheadlines/8761531-74/clinton-campaign-fundraiser#ixzz3geVS2ujZ
Follow us: @triblive on Twitter | triblive on Facebook

And in the Pittsburgh Post-Gazette:

Hillary Clinton appears at private fundraiser in Fox Chapel
Presidential candidate and former first lady Hillary Clinton was scheduled to make a stop in the Pittsburgh area this morning for a private fundraiser.

Clinton, also former secretary of state, was to appear at the Fox Chapel home of Cynthia Shapira, the wife of David Shapira, the executive chairman of Giant Eagle’s board of directors.

The Clinton event was closed to the press and the candidate had no public events scheduled during her brief Pittsburgh trip. A spokesman for her campaign said they would have no comment on the visit or how much money they hoped to reap from it.

Just who IS this Robert Reich who supports Sanders? Prepare to be impressed!

All I really recalled about him was he was in one of Clinton's cabinets. I've been so impressed of late by his passionate FB posts, that I looked him up. Wow! Grab an iced tea or cuppa coffee and read all about him.

Robert Bernard Reich (pronounced /ˈraɪx/; born June 24, 1946) is an American politician, academic, writer, and political commentator. He served as the 22nd United States Secretary of Labor under President Bill Clinton, from 1993 to 1997, and was named by Time Magazine as one of the ten most successful cabinet secretaries of the last century. In 2008 he served on President-elect Barack Obama's economic advisory board.

A summa cum laude graduate of Dartmouth College, Reich is currently Chancellor's Professor of Public Policy at the Goldman School of Public Policy at the University of California, Berkeley. A former Harvard University professor and the former Maurice B. Hexter Professor of Social and Economic Policy at the Heller School for Social Policy and Management at Brandeis University, he is a contributor to CNBC and a frequent political and economic commentator on MSNBC, CNN, This Week with George Stephanopoulos, CNBC's Kudlow & Company, and NPR's Marketplace.


Reich was born in Scranton, Pennsylvania, and he attended John Jay High School in Cross River, New York. He attended Dartmouth College, graduating Summa Cum Laude with a bachelor's degree in 1968 and winning a Rhodes Scholarship to study Philosophy, Politics, and Economics at Oxford. Reich subsequently earned a J.D. from Yale Law School, where he was an editor of the Yale Law Journal.

From 1973 to 1974 he served as law clerk to Judge Frank M. Coffin, Chief Judge of the U.S. Court of Appeals for the First Circuit, and from 1974 to 1976 was Assistant to the U.S. Solicitor General, Robert Bork. In 1976, President Carter appointed him Director of the Policy Planning Staff at the Federal Trade Commission. (He would have been 30 then.)

From 1980 until 1992, Reich taught at Harvard's Kennedy School of Government, where he wrote a series of influential books and articles, including The Next American Frontier and The Work of Nations. In The Next American Frontier he blamed the nation's lagging economic growth on "paper entrepreneurialism -- financial and legal gamesmanship that drained the economy of resources needed for better products and services. In The Work of Nations he argued that a nation's competitiveness depends on the education and skills of its people and on the infrastructure connecting them with one another, rather than on the profitability of companies headquartered within it. Private Capital, he said, was increasingly global and footloose, while a nation's people -- its human capital -- constituted the one resource on which the future standard of living of a nation uniquely depended. He urged policy makers to make such public investments the cornerstone of economic policy.

Bill Clinton incorporated Reich's thinking into his 1992 campaign platform, "Putting People First," and after being elected invited Reich to head his economic transition team. Reich later joined the administration as Secretary of Labor. During his tenure, he implemented the Family and Medical Leave Act (FMLA), successfully promoted increasing the minimum wage, successfully lobbied to pass the School-to-Work Jobs Act, and launched a number of job training programs. At the same time, he lobbied Clinton to address bigger societal issues, countered Robert Rubin and others in the administration who wanted Clinton to pare his investment agenda, and pushed for improvement of conditions for those in poverty.

In addition, Reich used the office as a platform for focusing the nation's attention on the need for American workers to adapt to the new economy. He advocated that the country provide more opportunities for workers to learn more technology, and predicted the shrinkage of the middle class due to a gap between unskilled and highly skilled workers.


In 1996, between Clinton's re-election and second inauguration, Reich decided to leave the department to spend more time with his sons, then in their teen years. He published his experiences working for the Clinton administration in Locked in the Cabinet. After publication of the book, Reich received criticism for embellishing events with invented dialogue. The paperback release of the memoir revised or omitted the inventions.

Reich became a professor at Brandeis University, teaching courses for undergraduates as well as in the Heller School for Social Policy and Management. In 2003, he was elected the Professor of the Year by the undergraduate student body.

In 2002, he ran for Governor of Massachusetts. He also published an associated campaign book, I'll Be Short. Reich was the first Democratic candidate for a major political office to support same-sex marriage. He also pledged support for abortion rights, and strongly condemned capital punishment. His campaign staff was largely made up of his Brandeis students. Although his campaign had little funding, he surprised many and came in a close second out of six candidates in the Democratic primary with 25% of the vote.

In 2003, he was awarded the prestigious Václav Havel Foundation VIZE 97 Prize, by the former Czech president, for his writings in economics and politics.

In 2004, he published Reason, a book on how liberals can forcefully argue for their position in a country increasingly dominated by what he calls "radcons", or radical conservatives.

In addition to his professorial role, he is a weekly contributor to the American Public Media public radio program Marketplace, and a regular columnist for the American Prospect, which he co-founded in 1990. He is also a frequent contributor to CNBC's Kudlow & Company and On the Money.

In early 2005, there was speculation that Reich would once again seek the Democratic nomination for Governor of Massachusetts. He instead endorsed the then-little-known candidacy of Deval Patrick, who had previously served as Assistant Attorney General for Civil Rights in the Clinton Administration. Patrick won the party's endorsement, a three-way primary with nearly 50% of the vote, and the general election in November 2006.

In September 2005 Reich testified against John Roberts at his confirmation hearings for Chief Justice of the United States Supreme Court. Two years later his book Supercapitalism: The Transformation of Business, Democracy, and Everyday Life was published. In it he argued turbo-charged corporate competition, fueled by consumers and investors seeking the best possible deals from anywhere in the world, was generating severe social problems. But governments were failing to address them because big corporations and Wall Street firms were also seeking competitive advantage over one another through politics, thereby drowning out the voices of ordinary citizens. The answer was to keep corporations focused on making better products and services and keep them out of politics. "Corporate Social Responsibility" is essentially forbearance from activities that undermine democracy.

During the 2008 primaries, Reich published an article that was extremely critical of the Clintons, referring to Bill Clinton's attacks on Barack Obama as "ill-tempered and ill-founded," and accusing the Clintons of waging "a smear campaign against Obama that employs some of the worst aspects of the old politics."

On April 18, 2008 Reich endorsed Barack Obama for President of the United States.

On April 3, 2009, Reich commented that published U6 employment figures indicate that the United States is in a depression.

(See the link below for complete list of his many books.)

blog: www.robertreich.org; Twitter handle: rbreich.

Reich calls out media for slanted, de minimis coverage of enthusiasm for Bernie

Reich's latest FB entry, late Saturday night, (9 hours ago) already has over 16,000 likes and 6,000 shares. Let's support Reich's support of Bernie's campaign by liking and sharing his comments as well. Go to: https://www.facebook.com/RBReich?fref=nf
The media are pumping up Trump and playing down Bernie.

Data provided by Google to the journalism site FiveThirtyEight found that 46 percent of the media coverage over the last month about the GOP candidates was about Trump. Between June 14 and July 12, Trump got more coverage than the combined total of Jeb Bush, Scott Walker and Marco Rubio, generally considered the leading GOP candidates.

Meanwhile, the media is barely covering the huge enthusiasm Bernie Sanders has been generating – and when it does, it describes the surge solely through the prism of Hillary rather than as a response to what Sanders is saying. The New York Times is hardly mentioning Bernie at all (its front-page story today is about Hillary's father).

Why is the media giving Trump so much attention and Sanders so little?

His comment then links to Alternet's "Why Is the NY Times Basically Doing a Blackout on Bernie Sanders? The New York Times' Sanders coverage is intellectually dishonest." article.


99th Monkey has started a thread on this Alternet article in the Sanders group:

It's a long, detailed article excoriating the Times for intellectually dishonest coverage rising to the level of journalistic malpractice. Give it a read.

Just ordered $100 worth of Bernie gear

Hat/shirts/bumper stickers/car magnets

My favorite logo: "BERNIE SANDERS - NOT FOR SALE!"

Interesting thing - the various sites include product reviews. Reviews on "Bernie" gear - outnumbered reviews on HRC gear, by a ratio of 5 to 1.

UPDATE:Reich's pro-Bernie FB post: 80,000+likes;18,000+shares in 26 hours!

Original thread title: Robert Reich's pro-Bernie FB post got 49,600 likes & 11,300 shares in just 3 hours

What amazes me, frankly, are the crowds. Not since Robert F. Kennedy sought the Democratic nomination in 1968 has a candidate for the nomination of either party generated such large numbers of people eager to see and listen to him. None in living memory has summoned such crowds this early, before the nominating season even begins. Even Sanders' advisers are amazed (I spoke with one this morning who said they never expected this kind of response).

What's the explanation? It's not his sense of humor. It's not his youth. He isn't a demagogue, bashing immigrants or pandering to hatred and bigotry. It's that he's telling Americans the unvarnished truth about what has happened to our economy and our democracy, and he is posing real solutions. And it seems that America is ready to listen.

What do you think?


Doing some very conservative extrapolation, i.e., that everyone who shared had an average of 65 FB friends (and many millennials have several hundred FB friends), that means that in slightly over a 24 hour period, ONE MILLION, ONE HUNDRED AND SEVENTY THOUSAND PEOPLE RECEIVED THIS POSITIVE MESSAGE ABOUT BERNIE SANDERS FROM A FRIEND.
Not from some political spinmeister or paid advertising agency, but from a friend. That means a helluva lot.

Just so you can compare and contrast. One campaign is riding a tidal wave of social media and record breaking gatherings, the other is locked in the gilded age approach of soliciting the wealthy.

5,200 turn out to Sanders rally at University of Houston


5,200 turn out to Sanders rally at UH
Democrat delivers progressive message over income inequality, college tuition, big money

By Nancy Sarnoff Updated 10:14 pm, Sunday, July 19, 2015

Democratic presidential candidate Bernie Sanders spread his progressive message of reducing income inequality, providing free college tuition and taking big money out of politics to Houstonians Sunday night at a b]packed arena on the University of Houston campus.

He implored his supporters to ask their Republican friends, families and co-workers if it makes sense to grant huge tax breaks for the rich while cutting spending on health care programs and federal student aid.

"Our job is to reach out to our Republican brothers and sisters, working-class people and middle class people, and get their heads right," Sanders said to a boisterous crowd of 5,200 people at UH's Hofheinz Pavilion.

The U.S. senator from Vermont was in Dallas earlier Sunday where he spoke to a crowd of some 7,000 people at a downtown hotel.

Wall St./1%ers/MIC/Big banks only give in anticipation of high rate of return.

As per Sabrina's post 17 above,
As Joe Biden stated yesterday, this is THE MOST IMPORTANT issue that Dems need to stand up and address, the POISONOUS effects of money on our electoral system. I guess Biden, who agrees with Sanders on this, has seen it up close and personal. He actually says that. 'Don't trust even those you like IF they are taking Corporate money'.

It was an amazing speech. Clinton would do well to take Biden's advice and refuse all that money, as Bernie is doing and then go after the bought-and-paid-for Republicans on this most important issue.

Like Biden, I have seen the lobbying/bribing/quid-pro-quos up close and personal, albeit in the Pennsylvania state legislature, not in D.C. But the amounts involved are beggared beyond belief by the tens of millions the Clintons have been amassing, both personally and in their boutique/middle man/"charity." I mean, why on earth do foreign governments have to help out, let's say Haiti, by going through the Clintons, who will skim off a handling fee/percentage, when they could simply give assistance directly to the country or relief organizations involved. They did it forever before the Clinton Family Foundation.

And I have been posting the following observation/opinion for about a month now:

HRC's corporate quid pro quos will be called in on her Supreme Court appts.

As to the Supreme Court argument from Clinton supporters:

Who does not recognize that corporate/Wall Street donations/quid pro quos will come home to roost with a profiteering vengeance on any presidential candidate who has accepted tens of millions of dollars from them in a combination of campaign donations, personal payments for speeches to said candidate and spouse, and "gifts" to said candidate's family "non-profit" organization. Nowhere is this more vital to said corporate interests than in appointments to the Supreme Court.

Here's the script, kiddos!

(Corporate input/expectations on Supreme Court appointments)

"Here's the deal. Your supreme court nominations can be soft on social issues. We don't give a fuck if gays marry or women can get abortions. Makes no difference to our profiteering. But by god they better leave Citizens United in place and not approve prosecution of war crimes."

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