Hillary Clinton |
Gary Gensler |
There’s something wrong in the first place with a supposed democratic
political system in which the most important qualification of a political candidate
is his or her fundraising ability.
President Obama had the edge in both 2008
and 2012 as he continued to be bankrolled
by the financial sector.
What was okay for President Obama, however, is considered
bad form for Hillary Clinton. Figures, doesn’t it? The guy can get all the
money he needs from Wall Street, but a female presidential candidate faces
criticism for accepting funds from major financial institutions.
In the meantime, Bloomberg just published a breathless
"exclusive" that 2016 presidential candidate “Hillary Clinton is planning to
name Gary Gensler, a former top federal financial regulator and strong
advocate for strict Wall Street rules, as the chief financial officer of her
campaign, according to a Democrat familiar with the decision.”
Gensler, in his role as chairman of the Commodity Futures Trading Commission, was a leading player in the drafting and then implementation of the Dodd-Frank Act, the financial rules that President Barack Obama signed into law in 2010 in the wake of the worst financial crisis since the Great Depression. Gensler also served in President Bill Clinton's Treasury Department.
There’s that left flank again:
For Clinton, who has been fighting her left flank’s concern that she is too cozy with Wall Street, Gensler is a notable hire. He became known as someone with sharp elbows —even during his negotiations within the Obama administration—in his push for tighter regulation.
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