In last night's Democratic Party debate, the following exchange was reported by potential presidential candidate Fox News:
“Let’s not insult the intelligence of the American people. People aren’t dumb,” [presidential candidate Bernie] Sanders said. “Why in God’s name does Wall Street make huge campaign contributions? I guess just for the fun of it.”
They sparred on the issue as Sanders touted the fact he’s “the only candidate up here” who has no super PAC supporting him. A super PAC backing [presidential candidate Hillary] Clinton, he said, recently raised $15 million from Wall Street.
Clinton countered by noting that Obama took Wall Street donations too, but “when it mattered, he stood up and took on Wall Street.”
And after the trillions of dollars Wall Street got from both the Federal Reserve and the U.S. Treasury*, I am certain Wall Street has learned it's lesson!
*Before anyone brings up TARP (Troubled Asset Relief Program) was signed into law by President Bush in October 2008, both Senators Obama and Clinton voted for it, whereas Senator Sanders did not. It seems President Obama never really "stood up and took on Wall Street", and it doesn't seem likely Hillary Clinton will.
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