Donald Trump is the only billionaire in the race, but despite that fact, he’s maintained a populist image while Hillary Clinton’s kept one as an elitist. It was during the Democrat primary that Hillary’s ties to the financial industry became a political talking point, when Bernie Sanders drew attention to her $700k+ in speaking fees she’s taken from Goldman Sachs. Hillary said that she *might* release the transcripts of those speeches to the public after being pressured by Sanders, but with his departure from the race came the end of the chance of that ever happening.
It’s not just Goldman that’s rewarded her handsomely, and it’s hardly confined to just her private finances. If you look at her five largest individual donors, four of the five are financial institutions. Soros’ name makes the list, and his hedge fund is just one of many financial institutions to back Hillary. In total, the “Securities & Investment” industry accounts for the largest donor of Hillary by industry, accounting over $47 million of her funds raised. Trump’s largest “industry” of donors is retired people
For the first time in recent history it’s the Democrat candidate being criticized for ties to Wall Street while the Republican candidate is distancing himself from the financial elites. All bets are on a Hillary presidency among them, and they’re looking to strengthen their bets by banning their employees from donating to Trump. As the IJ Review reported: Goldman Sachs is under fire for banning its senior employees from donating to Donald Trump’s campaign.
And no, they don’t have any problem with their employees voting for Hillary.
According to Fortune; “In the memo, a copy of which was obtained by Fortune, Goldman specifically mentions the Trump-Pence campaign as an example of one Goldman partners can no longer support. Among the type of donations that are banned, according to the memo, are, “Any federal candidate who is a sitting state or local official (e.g., governor running for president or vice president, such as the Trump/Pence ticket, or mayor running for Congress), including their Political Action Committees (PACs).”
At the same time, the rules do not restrict donations to Clinton-Kaine. Kaine is a U.S. Senator for Virginia, and not considered a local official under Goldman’s rules.
Clinton and Trump both have staff members on their campaigns who at one time worked for Goldman Sachs. Clinton, however, is the only one who has personal ties to Goldman Sachs CEO Lloyd Blankfein.
Yes, the game is rigged.
[Note: This post was written by The Analytical Economist]