Clinton talks to be hosted by foreign bank often investigated by US

19 Jan 2015 | Author: | No comments yet »

85 percent of Democrats want Hillary Clinton to run: poll.

Hillary Clinton, the presumed frontrunner for the Democratic presidential nomination, will give a pair of speeches Wednesday in Canada hosted by a major bank that has been the subject of several investigations into wrongdoing over the past dozen years. WASHINGTON — Elizabeth Warren celebrated her takedown of President Obama’s nominee for a top Treasury spot last week by signaling a readiness for her next battle: blocking those who meddle with the post-2008 financial reform known as the Dodd-Frank Act.WASHINGTON (AP) — Inside the Democratic Party, economic policy is often seen as a contest between President Barack Obama’s track record and the anti-Wall Street approach advocated by Massachusetts Sen.

The Republican-controlled House last week passed a bill that would ease Dodd-Frank rules and sent it to the Senate, one of several changes approved in recent days. But the upcoming US election in 2016 may offer a choice of two powerful women candidates: former First Lady Hillary Clinton and Senator Elizabeth Warren of Massachusetts. But the appearances are all but certain to fuel complaints that she’s too close to the corporate elites, especially coming a day after President Barack Obama’s State of the Union speech focusing on the plight of the middle class and signs that several top Republicans also plan to make economic populism a centerpiece of their campaigns.

The Massachusetts senator and her allies in the Democratic Party’s liberal wing, who have turned into a viable threat to Wall Street, insist they will do their utmost to derail all rollback efforts. A group of Clinton advisers offered a detailed economic agenda last week that aims to help raise wages for millions of workers and narrow the gap between rich and poor. Biden Jr. was actually the only other potential Democratic contender to be rated one way or the other by a majority of Democrats; 40 percent want him to run and 38 percent say they do not.

Clinton has given dozens of speeches since leaving office as Secretary of State, many for free and many drawing paychecks of as much as $200,000 to $300,000. Divisions are expected to pop up, not only between Warren and Republicans in the new Senate majority, but between Warren and centrist Democrats, who view Wall Street firms more favorably. “Elizabeth Warren is going to draw the line in the sand and moderate Democrats are going to have to decide which side they want to be on,” said Isaac Boltansky, an analyst at Washington financial services firm Compass Point Research & Trading, and a former Warren aide on the Congressional Oversight Panel.

The policy road map was produced at the Center for American Progress, a Washington-based think tank stocked with veterans of the Bill Clinton and Obama administrations. Clinton is expected to endorse more infrastructure projects that create jobs and she has also spoken of the importance of creating an online public university where anyone can win a degree. In 2003, the Canadian Imperial Bank of Commerce settled a case with the Securities and Exchange Commission for $80 million for allegedly helping the Enron energy company mislead investors through a series of transactions over a period of several years, according to the SEC. By leading the successful effort to vanquish investment banker Antonio Weiss in his bid for Treasury undersecretary for domestic finance, she drew cheers from her populist base and all but ensured the White House will steer away from future Treasury picks with strong Wall Street ties.

Better for Congress to focus on jobs and wages for middle-class families.” That goal has eluded Obama, even though he is able to point to a rebounding economy, falling unemployment rates and lower gas prices. A Harvard Law professor, she came to the attention of the American voters when President Obama tapped her to set up the US Financial Protection Bureau. Webb is the only candidate on the Democratic side to have taken formal steps toward a run in 2016, recently forming an exploratory committee as he weighs a bid. And again in 2005, the bank agreed to pay nearly a half million dollars to settle SEC allegations that it broke the law by underwriting municipal securities for the state of California after making campaign donations to six politicians, including former Democratic California Gov. In her recently published memoir, she describes the tough period her family went through after her father suffered a heart attack and couldn’t work.

Warren’s rise has drawn heavy fire from Washington’s business lobby. “The idea that enterprise and American companies should be more vigorously regulated by the government, and in fact controlled by the government, is a view that we don’t share,” Chamber of Commerce president Thomas Donohue said last week, when asked about Warren. Warren, in a speech this month to the AFL-CIO, said that despite stronger economic growth and a soaring stock market, “America’s middle class is in deep trouble.” Liberals say the problem of stagnant wages require urgent action. “We need to be extremely aggressive to deal with income and wealth inequality,” said Vermont Sen. Donohue told reporters Warren was “a very pleasant woman if you sit down and have a cup of tea with her… but if she runs for president, I don’t think the American people will share her views.” Republicans, now in control of both houses of Congress, plan an ongoing siege of Dodd-Frank.

Clinton will speak in Winnipeg and Saskatoon as part of the Global Perspective speaker’s series sponsored by the Toronto-based bank with millions of clients and tens of thousands of employees. It also cited some of the chief parts of Obama’s economic program, such as efforts to raise the federal minimum wage, spend more on roads, bridges and public works, offer paid leave for workers and help students pay for college. The judge, she notes, probably outweighed her by a hundred pounds, and “he started shifting himself closer to the microphone and edging me out of his way. Along with Summers, the commission included the center’s president and CEO, Neera Tanden, a former Hillary Clinton policy adviser; former Michigan Gov.

Jennifer Granholm, a leader of a political action committee set to back a Clinton candidacy; and Steven Rattner, who was chief adviser to Obama’s auto bailout task force and is a longtime Clinton donor. But it’s the paid speeches complete with hefty paychecks and perks that have caused controversy, leading some to accuse her of appearing out of touch. “Hillary Clinton has been raking in cash from speeches to the wealthy elite for years,” said Jeff Bechdel, a spokesman for America Rising, a conservative opposition research group. “It’s no surprise Clinton is getting paid by a company that has off-shore accounts and will lobby the U.S. government for more favorable treatment if she becomes president.

Most notably, it does not advocate for the breakup of Wall Street banks, which Warren has sought, and does not push for a higher minimum wage beyond the $10.10 pushed by Obama. “In some areas, the report represents a largely Washington establishment perspective, and isn’t as bold as folks outside the Beltway are probably ready for,” Galland said. Jared Bernstein, a former economic adviser to Vice President Joe Biden, said much of the report offered ideas that could unite broad parts of the Democratic coalition.

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