The Phaserl


Democratic Debate: Clinton Dangerously Trumpets Obama’s Record

by Pam Martens and Russ Martens, Wall Street on Parade:

During the series of Democratic debates, including the one last night hosted by CNN, Hillary Clinton has repeatedly trumpeted the record of President Obama in signing tough legislation to rein in Wall Street abuses when questioned on her money spigot flowing from Wall Street. According to her logic, since Obama’s campaign and his Super Pacs took plenty of money from Wall Street and went ahead and enacted tough Dodd-Frank reform legislation, why should her integrity be questioned.

Early in last night’s debate, when Sanders raised the fact that she and a Super Pac supporting her have taken $15 million from Wall Street, Clinton had this to say:

“Well, make — make no mistake about it, this is not just an attack on me, it’s an attack on President Obama. President Obama…You know, let me tell you why. You may not like the answer, but I’ll tell you why. President Obama had a super PAC when he ran. President Obama took tens of millions of dollars from contributors. And President Obama was not at all influenced when he made the decision to pass and sign Dodd-Frank, the toughest regulations on Wall Street in many a year.  So this is — this is a phony — this is a phony attack that is designed to raise questions when there is no evidence or support, to undergird the continuation that he is putting forward in these attacks.”

This is a highly dangerous quagmire of quicksand for Hillary Clinton to stand on. It will only work if she can turn out millions of low information voters in the remaining state primaries. Unfortunately for her, Senator Bernie Sanders is drawing tens of thousands of newly engaged voters to his high information rallies and speeches and millions more to his high information campaign web site.

What has remained unsaid in this debate cycle is that Dodd-Frank is the antithesis of financial reform with teeth and provided no real cops on the beat. Dodd-Frank is, in fact, the very evidence that Hillary says doesn’t exist to show that Wall Street bought itself a boatload of cozy deals from Obama in exchange for its cash windfall to his campaign.

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1 comment to Democratic Debate: Clinton Dangerously Trumpets Obama’s Record

  • rich

    Caught in the Aftermath of a Minsky Moment by a Credibility Trap

    We do not have ‘capitalism.’ We have a corrupt system of kleptocracy ruled over by the big money power of a relatively few. And a system based on the primacy of selfishness, power, and unbridled greed and a free hand to cheat and deceive and manipulate will serve to create a kind of hell on earth.

    I think it is time for all of us to take a deep breath and seriously consider where our passions are taking us, and what our spirit of contentiousness and will to power is causing us to say and do. The ultimate irony is when we become that which we have hated. I do not seek to persuade you all. The kind of greed and lust for power and revenge we are seeing is driven not by normal desire but rather a pathology. Rather, I would wish all of us to step back, take a deep breath, and see what we may become before this goes too far.

    Saturday, April 16, 2016 at 05:32 AM (in reaction to the two recent PK columns on Sanders):

    “Paul Krugman has decided that if there is any way to destroy a decent, humble, caring, thoughtful candidate for president, a candidate who offers the possibility of actual change in domestic and foreign policies that have created so many problems for so many people for so long, if there is any way, any word that can be used, to destroy that candidate then destruction there will be.

    What Krugman has done however is show me what wild intolerance, what authoritarian political thinking in an American context amounts to, and the attempts by Krugman at destruction of a decent person and candidate will with me turn me completely away from the desired effect.

    Were I a student of Paul Krugman, I would smile and nod as if in agreement and very quietly go in the opposite direction. After all, I fortunately learned early on which teachers always had to be agreed with.

    I have no idea where this disdain for a truly decent person and candidate comes from, obviously not from the person, nor do I care about the psychology on where the disdain comes from. Krugman is being as fierce as can be, harsh as can be. I record the fierceness and harshness, know such an anti-intellectual posture can never be for me and move away.

    “As you know, I’m only saying these things because I’m a corporate whore and want a job with Hillary.

    Related: Paul Krugman, Why I Haven’t Felt the Bern

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