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Tags: wall street | Hillary | 2016 | bankers | finance

Wall Street Ready to Embrace Hillary (With Open Checkbooks)

Wall Street Ready to Embrace Hillary (With Open Checkbooks)
(Carlo Allegri/Reuters/Landov)

By    |   Wednesday, 12 November 2014 12:35 PM EST

Wall Street has lots of love for Hillary Clinton, particularly as a future presidential candidate, Politico Magazine writes of the former secretary of state's fiscal appeal.

"The consensus on Wall Street is that she is running — and running hard — and that her national organization is quickly falling into place behind the scenes. That all makes her attractive.

"Wall Street, above all, loves a winner, especially one who is not likely to tamper too radically with its vast money pot," said William D. Cohan in the Politico story published this week.

Analysts, Cohan wrote, say Clinton brings a new era of optimism and unlike others who might step up to challenge her, the former first lady isn't one to lay blame on the successful to court the middle class.

One executive told Politico that Clinton "understands that America's much-maligned financial industry wants to be part of the solution to the country's problems."

"Everybody who makes money feels a shared responsibility," the executive said of Clinton's circle-the-wagons approach. "Everybody sort of looks at her with a lot of optimism because they feel she doesn't mind making hard decisions.

"She'll do what she needs to do, but it's not a 'Let me blame you.' It's, 'Hey, here's what you've got to do.' And I think that's very different."

While Republican Mitt Romney, a Bain Capital founder, enjoyed Wall Street's favor in 2012, that approval has shifted to Clinton, Cohan said.

"The money is already behind her," one Wall Street money manager told Politico. "I don't think it's starting to line up behind her: It's there for her if she wants it."

Clinton, however, has misspoke on the campaign trail, castigating big business and "big national banks that tried to trick and trap and cheat our families," as she stumped for failed Massachusetts gubernatorial candidate Martha Coakley.

She later softened her rhetoric as she talked about the nation's financial sector, The Washington Post reported.

"Our economy grows when businesses and entrepreneurs create good-paying jobs here in America, where workers and families are empowered to build from the bottom up and the middle out," Clinton said, according to a Post column by Harold Meyerson, who noted that "Clinton's semi-demi-about-face reflects a fundamental tension in Democratic politics."

Clinton, while speaking on behalf of Coakley, also raised eyebrows further when she popped off on job creation and the economy, The New York Times noted.

"Don't let anybody tell you that it's corporations and businesses that create jobs," Clinton said at a Boston campaign rally in late October. "You know that old theory, trickle-down economics. That has been tried, that has failed. It has failed rather spectacularly.

"One of the things my husband says when people say, 'What did you bring to Washington?' He says, 'I brought arithmetic.'"

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Wall Street has lots of love for Hillary Clinton, particularly as a future presidential candidate, Politico Magazine writes of the former secretary of state's fiscal appeal.
wall street, Hillary, 2016, bankers, finance
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2014-35-12
Wednesday, 12 November 2014 12:35 PM
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