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Wall Street Is Cool With Hillary Clinton Pretending To Be A Populist

At this stage of the game you have to be exceedingly dim or incredibly delusional to think that Hillary Clinton is a progressive. Her record of supporting cuts to programs helping children in poverty, voting for reckless wars overseas, applauding domestic surveillance, and standing with corporate power in Congress speaks for itself.

But in order to win an election in a country with a population increasingly skeptical of trickle-down economics Hillary Clinton is going to have pretend to be a populist. The risk is that her rhetoric could scare away her corporate base especially her strongest supporters working in finance.

Fortunately for Clinton those supporters understand the pretense of modern electoral politics and, according to Politicoaren’t holding the charade against her. Wall Street understands they are unpopular after bringing the US economy to its knees with their greed and criminality. They know Clinton has to criticize them in public even after taking their money in private.

Hillary Clinton sounded like a woman on a mission after her long drive into the heartland: “There’s something wrong,” she told Iowans on Tuesday, when “hedge fund managers pay lower taxes than nurses or the truckers I saw on I-80 when I was driving here over the last two days.” But back in Manhattan, the hedge fund managers who’ve long been part of her political and fundraising networks aren’t sweating the putdown and aren’t worrying about their take-home pay just yet. It’s “just politics,” said one major Democratic donor on Wall Street, explaining that some of Clinton’s Wall Street supporters doubt she would push hard for closing the carried-interest loophole as president, a policy she promoted when she last ran in 2008…

The only surprise, even to those who are apparently the targets of the remarks, was that Clinton’s denunciation on the trail in Iowa and in a fundraising email — widely read as a nod to the wing of the Democratic Party that prefers Massachusetts Sen. Elizabeth Warren to Clinton — came so soon.Far from creating genuine waves on Wall Street, Clinton’s comments were met with a resounding “meh.”

The banksters understand the game all too well. Clinton will try to position herself as a populist during the primary, maybe somewhat less during the general, then come home to Wall Street after she takes the oath of office. She had the opportunity to see her husband do it firsthand and, if a mirror was around, herself do it while serving as Senator.

The most pathetic part of the primary process may end up being progressives trying to contort their brains into seeing her as a progressive – she isn’t one. She is from the corporate wing of the party and now would be a good time to accept that reality.

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Dan Wright

Dan Wright

Daniel Wright is a longtime blogger and currently writes for Shadowproof. He lives in New Jersey, by choice.