Hillary Clinton Doing Back-to-Back Finance Industry Fundraisers Just Before Iowa

[pinebox]

Well, this is concerning. How do you stand up on stage and say you'll fight Wall Street when you're doing this?

Hillary Clinton Doing Back-to-Back Finance Industry Fundraisers Just Before Iowa
https://theintercept.com/2016/01/26/hillary-clinton-doing-back-to-back-finance-industry-fundraisers-just-before-iowa/

"......Clinton will appear in Philadelphia at a “gala” fund-raiser hosted by executives at Franklin Square Capital Partners, a $17 billion investment fund. Rocker Bon Jovi will reportedly play an acoustic set for “friends” who pledge $1,000 and hosts who bundle up to $27,000.

The Philadelphia Inquirer notes that “Franklin Square employs Ivy League-educated money managers and salespeople with experience at big Wall Street firms – plus four personal trainers and a dietitian to keep staff happy and productive amid the gym, yoga and nap rooms, Sol LeWitt art installations, and fancy cafeteria.”

Clinton will then head to New York City, where she will speak at a lunchtime “Conversations With Hillary” fund-raiser. This one is co-hosted by Matt Mallow, a senior managing director and general counsel at BlackRock, the world’s largest asset management firm. As we’ve reported before, having a conversation with Hillary is not cheap.

BlackRock’s ties to Clinton go particularly deep: Cheryl Mills, one of Clinton’s closest advisors at the State Department, sits on BlackRock’s board, and perhaps not surprisingly, Clinton’s plans for the industry align with the company’s financial strategy."

[arcane1]

1. She just wants a chance to tell them to "Cut it out" in person.

Yeah, that's it.

[Helen Borg]

20. More like: GIVE ME A CUT!

[jfern]

38. Cut me a check!

[Motown_Johnny]

21. Cut That Check !

[CorporatistNation]

45. The Spots on her coat tell the tale!

CORPORATIST NEOLIBERAL OF THE FIRST ORDER OWNED BY WALL STREET... FUNNY... NO QUESTIONS ABOUT WALL STREET THE OTHER NIGHT!

[Broward]

2. Are enough people going to wake up in time?

The average person doesn't stand a chance with either Hillary or a Repub in office.

[FSogol]

10. Your very first post and you already know that there are people here that "that will mock me for te

telling the truth."



Enjoy your time on DU.

[uppityperson]

13. Must be one of those Long Time Lurkers (tm)

[FSogol]

14. Yeah, that must be it.

[uppityperson]

17. Welcome to DU. When did Pres Obama try to cut Social Security? Thank you in advance for

your reply and welcome.

[cali]

4. You can't fight the beast when you're in its belly.

[Autumn]

5. You have to be there to tell them to "Cut it out!", a phone call won't work.

[restorefreedom]

6. time for newhart

https://m.

[Tierra_y_Libertad]

8. While getting their cash, she'll tell them how she really, really, wants the money out of politics.

No, really!

[zappaman]

9. Ok. n/t

[azmom]

11. Shame, shame Hillary.

[elleng]

12. and THIS is what Martin O'Malley is doing:

Martin O’Malley to Barnstorm Iowa in Final Days Before Caucuses with Last Leg of “O’Malley Unplugged: The New Leadership Tour”

DES MOINES, Iowa – Starting tomorrow, Governor O’Malley will barnstorm Iowa in the final days before the caucuses in the last leg of “O’Malley Unplugged: The New Leadership Tour.” O’Malley will make his closing argument to caucus goers on the need for new leadership to build off of President Obama’s progress and bring people together to get things done.

Eight years ago Iowans caucused for change, now is not the time to turn back the clock.

“O’Malley Unplugged: The New Leadership Tour” has been a month-long grassroots campaign featuring community conversations, potluck dinners, breakfast roundtables and a number of other grassroots style events featuring local musicians, taking the Governor’s skill for retail politics to the next level in the final weeks ahead of the caucuses.

Here is Governor O’Malley’s schedule of public events in Iowa through to caucus night.

Wednesday, January 27th

5:00pm CST - O’Malley Unplugged: New Leadership Tour stop at Grinnell College
Harris Hall, 1114 10th Avenue
Doors Open: 4:30pm


7:45pm CST - O’Malley Unplugged: New Leadership Tour stop in Ames
Torrent Brewing Company, 504 Burnett Ave, Ames, IA 50010
Doors open 7:15pm


Friday, January 29th

1:00pm CST - Canvass Kick-Off in Council Bluffs
Home of State Rep. Charlie McConkey, 2222 L Avenue, Council Bluffs, IA


2:30pm CST - O’Malley Unplugged: New Leadership Tour stop in Harrison County
Missouri Valley Public Library Meeting Room, 420 East Huron St, Missouri Valley, IA
Doors open: 2:15pm


4:30pm CST - Canvass Launch in Crawford County
Crawford County Abstract, 1305 Broadway #201 Denison, IA 51442
Doors open 4:00pm


7:00pm CST - O’Malley Unplugged: New Leadership Tour stop in Woodbury County
1408 Nebraska Street, Sioux City, IA 51105
Doors open 6:30pm


Saturday, January 30th

9:00am CST - O’Malley Unplugged: New Leadership Tour stop in Cherokee
The Copper Cup, 425 W Main Street, Cherokee, IA 51012
Doors open at 8:45am


11:00am CST - O’Malley Unplugged: New Leadership Tour stop in Clay County
The Bear, 24 W Park St, Spencer, IA


1:00pm Storm Lake Canvassing Kickoff
The Better Day Café, 518 Lake Ave North, Storm Lake 50588
Doors open at 12:30pm


3:00pm CST – O’Malley Unplugged: New Leadership Tour stop in Ft. Dodge
Bemrich Electric, 110 S. 21st St, Ft. Dodge, IA
Doors open: 2:45pm


5:00pm CST – O’Malley Unplugged: New Leadership Tour stop in Boone
Home of Pam Nystrom, 1827 Boone Street, Boone 50036
Doors open at 4:45pm


7:00pm CST - Des Moines Canvass Launch
Des Moines Field Office, 405 SW 8th Street, Des Moines 50309
Doors open at 6:30pm


Sunday, January 31st

12:00pm CST - Johnston Canvass Launch & Door Knocking
Home of Judy Anderson and Tom Leffler, 5985 NW 61st Ave, Johnston, IA


3:00pm CST - Canvass Launch and Door Knocking
Cedar Rapids Field Office, 1953 1st Ave NE, Ste B1, Cedar Rapids 52402


5:30pm CST - Phone bank Kickoff
Jameson’s Irish Pub, 310 E 4th St, Waterloo, IA 50703


Monday, February 1st

8:30am CST – Media Availability with supporters
Outside Smokey Row, 1910 Cottage Grove Ave, Des Moines, IA


12:00pm CST - ISU Presidential Series Town Hall w/ Martin O’Malley
Iowa State Memorial Union, South Ballroom, 2229 Lincoln Way, Ames, IA


3:30pm CST – Final Canvass Shift Launch
Des Moines Field Office, 405 SW 8th Street, Des Moines 50309


9:00pm CST –Caucus Night Party
Wooly’s, 504 E Locust St, Des Moines, IA 50309

[peacebird]

26. I like & respect O'Malley

[Mike__M]

15. It's not what it looks like

At "Conversations with Hillary" I'm pretty sure they're going to bow their heads and swap 911 stories.

[stillwaiting]

18. Jesus Christ.

Well, she is bold.

[zentrum]

19. Bernie and Bernie's

…..people need to demand that HRC release the transcripts of the speeches she gave in front of Goldman Sachs and Health Insurance Companies for which she was payed so many thousands of dollars.

No reporters are allowed into these meetings.

What does she say to such groups that we can't hear?

Demand that we be able to know what's in the speeches she gave.

Before the Primaries.

[Fawke Em]

25. Here's the thing: did she really give those speeches?

Or was that money they gave her preemptive quid pro quo?

[zentrum]

33. Wow. So

…you think it was that blatant? I'm sure they have have to at least go through the motions to cover the pay-off.

Either way——Bernie should demand transcripts.

[CharlotteVale]

22. Ka-ching!

[reformist2]

23. She can't say no to them now even if she wanted to. She's tangled in their web.

[OffWithTheirHeads]

24. IF the right person gets into one of these functions we could get another rmoney 47$% moment

[dreamnightwind]

34. Great idea, needs a gofundme ticket purchase and a skilled citizen journalist

[Juicy_Bellows]

35. All this and more awaits the electorate if she gets the nod.

The Republicans kept their best powder dry. Obama edged her out but if she gets the nomination this time we will see 10 plus years of perfectly orchestrated attack in 6 months. She will be decimated.

The common republicans aren't too swift but the masters are brilliant, don't think for a second they've given everything they got.

[dreamnightwind]

36. Yeah, probably true

They'll stay mostly away from this issue, since they are taking money from the same sources, so sadly, the primary election is our only chance to make any kind of statement on not wanting to vote for representatives of the financial industry.

I would seriously like to see a crowd-funded person go to one of these events and spill the beans, it would be a public service and I think raising the money would be possible.

[orpupilofnature57]

27. Bernie is in Minnesota talking to People .

[kcjohn1]

28. What a joke

She wants us to believe these people don't want anything in return? It probably is not politically smart, but I wish Bernie would straight out call her and all these politicians who take money out. What are you promising in return? We know what people who contribute to Sanders want. They want universal care, increase in SS payments, free tutition, etc.

What is she promising behind close doors?

[kennetha]

29. Heaven Forbid

A presidential candidate raising money from her fellow Americans!

[dreamnightwind]

37. Uh, these are beasts of no nation

Reps of large wealthy multinational banks, hardly what I consider to be fellow Americans.

[pinebox]

47. Raising money

from big bankers? See, you exemplify the very problem we have. How about this, 1 person = $1 and NOTHING more. Period.

[Hoyt]

30. I believe Bon Jovi is a big Democrat. Must be something else going on, like several of the partners

are big Democrats too.

[99Forever]

31. Nothing says "of the people" quite like ....

... partying with rich fucks and taking piles of cash.


You little people are just jealous.

[MisterP]

32. Bon Jovi, no!

[Betty Karlson]

39. Her allegiance is howing - and its ugly. I'll never trust her.

If she goes on like this, she'll drive away too large a part of the Democratic Base, and drag the entire GE into the mire with her negative coattails.

[blue neen]

40. Interesting article.

Ah, yes. The Intercept.

[Oilwellian]

41. Franklin Square Capital Partners - Under Regulatory Scrutiny

Oh Hillary, why do you have the most inept campaign team in history? How can they allow stories like this follow you?

But what kinds of “alternative investments” does Franklin Square Capital Partners sell, primarily?

Unregulated, untraded, illiquid, highly-profitable (to Franklin Square) “business development company” (BDC) funds to smaller-ticket investors.

Here’s the lowdown from a November 12, 2013 Forbes article:

The Overly Expensive, Tricky To Sell Investment Product Everyone Seems To Be Buying

Few top executives take their road shows as seriously as Michael Forman, chief executive of Philadelphia’s Franklin Square Capital Partners.

But Forman’s BDCs (FS Investment Corp, or FSIC, FSIC II and FS Energy & Power) are different. They don’t trade on any exchange, so they’re illiquid. They’re sold through financial advisers and broker dealers like LPL Financial and Amerprise. Many brokers love them because they carry outrageous fees (ones publicly traded BDCs don’t have). Usually, it’s a 10% up front sales commission…and then a 2-and-20 fee structure on assets and profits that partly goes to subadvisors like Blackstone. The structure provokes a chuckle from Sterne Agee analyst Henry Coffee, who covers the public BDCs. “Asking about untraded BDCs,” he says, “is like asking, What do you know about radiation poisoning?”

The slick sales approach looks to attract small dollar investors to their highly profitable funds:

Franklin Square’s advertising sells the BDCs as way into an exclusive club. A video on its Website features a solemn-voiced narrator, who intones, “Only large investors like endowments, pension plans and financial institutions could afford to enter this world,” of investing in private companies. The video cuts to an image of a closing door, then a picture of a frowning middle-aged couple. Continuing, the narrator says, “There is a way for investors without multi million-dollar accounts to enjoy many of the same benefits as institutions…”

In person, a Franklin Square salesman can continue the easy pitch by mentioning the $5,000 minimum investments for anyone with $70,000 in net worth and $70,000 in income or $250,000 in net worth. Bragging about 7% yields on most of its funds helps too.

And Franklin Square has been reaping huge rewards while delivering poor returns:

Despite sub par returns for investors, Franklin Square is doing quite well. It now manages $7.8 billion in assets, up from $5 billion in December 2012 (ed. now at $17 billion). Meanwhile, revenue of the closely held company has skyrocketed 276.9% to $134 million from 2009 to 2012.

Franklin Square is selling these highly profitable funds that are completely unregulated by federal authorities. Back in March 2013, Bloomberg Business noted that the funds were beginning to draw “regulatory scrutiny”:

Brokers across the U.S. are tapping into demand for high-yield debt, and drawing regulatory scrutiny, by pushing investors into pools of risky loans that have extracted more in fees than they’ve paid out in profit.

Franklin Square Capital Partners, the Philadelphia firm that created the securities about four years ago, said it took in $134 million of revenue last year, much of that passed on to Blackstone Group LP, which picks the loans and manages the portfolios.

The investments are luring individuals with annual payouts of about 8 percent and access to managers including Blackstone and KKR & Co. Brokerages generally take 10 percent upfront, several times the amount charged by similar junk-loan mutual funds, while management and performance fees rival those of hedge funds.

Charles Ponzi would be proud!

Daily Kos

[RiverLover]

44. Wow! Despicable. Ponzi schem on steroids, with the blessing of the US govt.

Nothing has changed. Thanks for posting more on this.

Do you think we'll be willing to bail them out again & not prosecute anyone when they crash the economy again? Mark my words, they'll be blaming our US "ally" Saudi Arabia and oil price rigging.

[studyshare]

42. To No Surprise - No HILLARY Supporters commenting in here :(

I find it fascinating when you bring up links to bribes & corruption of Hillary their supporters put a blind eye to it. Psychology is a fascinating field.

[pinebox]

46. Quite true & welcome to DU!

[RiverLover]

43. They're playing us.

Clinton's relationship with Goldman Sachs is not unique. Bill and Hillary Clinton have always nurtured cozy ties with Wall Street—in terms of policies and funds-chasing (for their campaigns and the foundation). The chief economic guru of the Clinton administration was Robert Rubin, a former Goldman Sachs chairman, and the financial deregulation and free-trade pacts of the Clinton years have long ticked off their party's populists.

In his new book, former Treasury Secretary Timothy Geithner recalls visiting Bill Clinton at his Harlem office and asking his advice, as Geithner puts it, on "how to navigate the populist waters" and respond to the American public's anger about bailouts and Wall Street. The former president didn't seem to have much sympathy for these popular sentiments and replied by referring to the CEO of Goldman: "You could take Lloyd Blankfein into a dark alley and slit his throat, and it would satisfy them for about two days. Then the bloodlust would rise again."

http://www.motherjones.com/politics/2014/06/hillary-clintons-goldman-sachs-problem

But really, what is so wrong with Goldman-Sachs? Why be upset with a successful bank...from the same article~

*In April 2011, Sen. Carl Levin (D-Mich.), who chairs the Senate's Permanent Subcommittee on Investigations, released a report, based on a two-year investigation, that concluded that Goldman had misled clients and Congress about its investments in securities related to the housing market. Levin called on the Justice Department and the Securities and Exchange Commission to investigate if Goldman had violated the law by selling complicated securities to customers without informing the buyers that Goldman would pocket profits if these financial products dropped in value. Goldman denied the charge, but the previous year Goldman had paid $550 million in a civil settlement with the SEC regarding its sale of these securities. (When the case was first filed, the SEC maintained that Goldman had committed fraud by creating and peddling a mortgage investment that was secretly designed to fail.)

*In March 2012, Greg Smith, a top Goldman executive who was resigning, wrote an op-ed for the New York Times slamming the screw-the-client culture that permeated Goldman: "To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money…I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It's purely about how we can make the most possible money off of them…It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as 'muppets,' sometimes over internal e-mail."....

[bread_and_roses]

48. "As Sanders Slams Wall Street Elite, Clinton Ditches Iowa To Fetch Their Checks"

http://www.commondreams.org/news/2016/01/26/sanders-slams-wall-street-elite-clinton-ditches-iowa-fetch-their-checks

Seemingly undeterred by the consistent critique that her close ties to the financial industry are hurting her campaign, The Intercept on Tuesday reports that with less than a week until the Iowa caucus, Hillary Clinton will soon leave the hotly-contested state to attend a pair of Wall Street-sponsored fundraising events.

I hope this travels far and wide.