Accusing Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) of lying about her campaign contributions from the fossil fuel industry, former Secretary of State Hillary Rodham Clinton diverted attention away from her fund-raising record. Environmental group Greenpeace found that Hillary received $4.5 million in contributions to her campaign super-PAC. “I never can really tell what he’s talking about,” said Hillary accusing Bernie of smear tactics, tying her to special interest groups in Wall Street and the fossil fuel industry. “Why is it so bad to be close to close to Wall Street?” asked Business Insider CEO Henry Blodgett at an interview at New York’s Purchase College. Hillary’s close Wall Street ties were exposed Feb. 4 in a CNN town hall Meeting by moderator Anderson Cooper. Cooper asked Hillary why she accepted $675,000 for three short speeches to Goldman Sachs.
When Hillary responded, “That’s what they offered,” the audience gasped, realizing that there was substance to Bernie’s complaints. Hillary insists whatever money she’s been paid directly or to her campaign super-PAC, Wall Street or any other industry has no influence on her. Sen. Elizabeth Warren (D-Mass.), member of the Senate Banking, Housing and Urban Affairs Committee, wrote about Hillary changing her vote on the 2003 Bankruptcy bill in her book, “A Fighting Chance.” Warren insists that Hillary’s close ties to the banking industry influenced her to change her vote opposing the bill to supporting it. “It’s just one of these sort of attacks that he pulls out all the time,” said Hillary, complaining about Bernie raising questions about Hillary receiving millions from special interest groups. After losing five-of-the-last six primaries to Bernie, Hillary’s campaign began to sweat.
Receiving hundreds-of-thousands-of-dollars for brief speeches raises real doubts about Hillary’s vulnerability to influence. Sanders campaign has gained steam from youthful voters refusing to allow his “revolution” to die because of Hillary’s large delegate lead heading into Wisconsin April 5 and New York April 19. While Bernie looks to pull out Wisconsin, he’s hopelessly behind in New York, pushing Hillary closer to the nomination. Why Hillary gets rattled by Bernie’s campaign rhetoric is anyone’s guess. Hillary overreacted waving her finger at Greenpeace activist Eva Resnick-Day March 31 for asking if she’s cut her ties to the fossil fuel industry. “She’s given a number of speeches behind closed doors to Wall Street,” said Sanders, asking Hillary to disclose the contents. Warren pointed out in her 2003 book that Hillary backed the 1999 Gramm-Leach-Bliley Act, tossing out the 1934 Glass-Steagall Act.
Warren’s 2003 book warned about banks owing brokerage houses, engaging in reckless speculation with depositors’ money. Glass-Steagall did exactly the opposite, prohibiting commercial banks from owning brokerage houses. When Wall Street collapsed in 2008, with the banking sector running out of cash, many economists blamed the end of Glass-Steagall for removing Depression-era safeguards. Sanders criticizes Hillary for backing the 2010 Dodd-Frank bill that does too little, too late to prevent another Wall Street meltdown. “I am sick of the Sanders campaign lying about me,” said Hillary. “I’m sick of it,” getting unnerved not only why she takes enormous campaign contributions from Wall Street but backs the North American Free Trade Agreement [NAFTA], Central American Free Trade Agreement [CAFTA] and recently the Trans-Pacific Partnership.[TPP].
Given Hillary’s nearly insurmountable delegate lead, it’s hard to explain her surly responses to Sanders’ critiques. Hillary blames the George W. Bush administration for the 2008 Wall Street and banking collapse. “I don’t think anybody would argue that during the eight years leading up to the Great Recession a lot of bets were made, risks taken, that weren’t good for the economy. And I don’t think all the blame lies with Wall Street,” said Hillary, making Sanders point. Had Hillary not backed tossing out Glass-Steagall and all the free trade agreements, Wall Street would not have made reckless bets and taken irresponsible risks leading to the Great Recession. Taking a reported 15 million from Wall Street, Hillary isn’t going to challenge Wall Street’s stranglehold on the banking industry, only another meltdown away from the next banking crisis and Great Recession.
Overreacting to Sanders criticism, Hillary needs to keep her cool before Wisconsin and certainly New York primaries where Bernie looks to gain ground. Unlike the GOP, the Democratic Party is ready and willing to crown Hillary their 2016 nominee. With the civil war inside the Republican Party, Hillary won’t face too much resistance heading into November. Unless the GOP unites behind Trump—something looking less likely—the general election won’t be as bad a today’s pseudo-battle against Bernie. Instead of exposing her surly side, Hillary should weather the storm, showing why Sanders’ loyal followers should back her as the Party’s nominee. More sore-losing only gives Sanders’ and independent voters reason not to back Hillary in the Fall. Claiming she doesn’t know what Bernie’s talking about only makes her look bad, showing a side better left behind closed doors.
