Hillary Clinton's Cozy Wall Street Ties A Cause For Concern Among Democrats

| by Ethan Brown
Hillary Clinton.Hillary Clinton.

Since Hillary Clinton’s not-so-surprising announcement on April 12 that she will be running for president, political analysts have examined different situations that may affect her second campaign for the White House.

Some consider her role in the Benghazi scandal of 2012-13, which happend while she was secretary of state, and blame her for the deaths of four Americans who died in an attack on the U.S. consulate in Libya. 

More recently, the “email scandal” has erupted into consistent negative press for Clinton. She admitted to using a personal email account and server to discuss classified government operations with other federal employees while she was secretary of state. The controversy stems from her deleting some of her emails, prompting Republicans in Congress to call for an investigation into which emails she deleted, insinuating they could be tied to her role in Benghazi.

While those two issues remain quite public, another is brewing among the progressive wing of the Democratic Party — Clinton’s historical ties to Wall Street and “big banks,” noted Harold Meyerson in an op-ed for The Washington Post.

During her time serving as U.S. senator for New York, Clinton was responsible for supporting the financial industry, specifically in times of economic hardship right after the Sept. 11, 2001 attacks and the 2008 economic downturn. 

Her husband, former President Bill Clinton, was also a proponent of less regulation for Wall Street and the banking industry as a whole. His time in the White House is known for economic prosperity and a national economic surplus, largely inspired by the Clinton administration’s support of a repeal to the Glass-Steagall Act, which separated businesses and banks from risky investments, notes CNN.

The former first lady is receiving pushback from the more progressive and liberal parts of her party that say Clinton is too moderate of a candidate. These voters state that they would support someone like Sen. Elizabeth Warren of Massachusetts, who is known for her rhetoric against big banks and student loan debt.

Erica Sagrans, campaign manager for Ready For Warren, was optimistic about Clinton’s announcement, reports CNN.

“We look forward to Hillary Clinton and other candidates laying out their platforms and hearing whether they embrace the fights that Sen. Warren has spent her life leading. In the coming days, Ready For Warren will be stepping up our efforts to convince Warren to run for president.”

Warren has repeatedly said she is not running for president in 2016. She also places a distant second or third in most polls, trailing Clinton by 50 points. 

Sources: CNN, The Wall Street Journal, The Washington Post

Photo Credit: Wikimedia Commons