Hillary Clinton fundraiser hosted by former financial regulators who jumped ship to Wall Street
File this under: "Things that make you go, huh?"
Just as Hillary Clinton attacked Bernie Sanders for not doing "his homework" when it comes to taking on the financial industry and its big banks, a group of former government officials — once in charge of regulating Wall Street and now working in the financial industry — are holding a fundraiser in her honor in Washington, DC.
The Intercept reports the April 6 fundraiser described as a "conversation" with "Hillary for America" financial officer Gary Gensler and Sens. Sherrod Brown, D-Ohio, and Carl Levin, D-Mich, is basically a who's who of Washington elites either advocating for corporate clients or advising them on how to best get around the regulations they themselves once helped write.
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The host of the event, for example, is Julie Chon, a managing director at the New York hedge fund Perry Capital, who once used to be a former Senate Banking Committee staffer.
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Gensler, the finance chair, is a former Goldman Sachs staffer who later joined the Obama administration as a financial regulator.
Another member, Raj Date, was the deputy director of the Consumer Financial Protection Bureau, who was basically in charge of reining in Wall Street but went on to start his own lending firm. He then became an adviser to Promontory Financial Group on how to comply with consumer protection regulation and managing complex risks.
The list goes on ... Bob Heckart, who is also listed on the invite, is a former Senate staffer who worked on the implementation of the Dodd-Frank Act and tax reform legislation aimed at closing abuse of corporate tax loopholes. Today, he is a senior counsel at the same major Wall Street law firm he worked for before working for the government.
Take a look at Clinton's 2016 campaign so far:
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Another fundraiser organizer, Tyler Gellasch, was, according to his biography, "intimately involved in drafting several high-profile pieces of legislation, including the Volcker Rule provisions of the Dodd-Frank Act." But today Gellasch works for the Healthy Markets Association, a group that advocates financial firms.
See the invitation below:
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