Posted by: coastcontact | March 21, 2016

Hillary Clinton is for … Hillary Clinton

At the outset I must write that Hillary Clinton as president will most likely replicate the presidency of her husband, Bill Clinton. The latest polls indicate that she will be president if the GOP nominee is Donald Trump.

Working class Americans should be concerned about how Mrs. Clinton will act towards them. We need only to look at Bill Clinton’s presidency to learn what to expect.

Bill Clinton signed a law that ended the Glass-Steagall Act. That law passed in 1933 prohibited commercial banks from engaging in the investment business. The consequence was the 2008 Great recession that brought about the collapse of many of America’s largest financial institutions. Some of those institutions were saved by The Emergency Economic Stabilization Act of 2008. On September 19, 2008 President Bush announced his financial bailout plan, the Emergency Economic Stabilization Act of 2008 to confront the financial crisis. This plan was initially rejected by the U.S House of Representatives on September 29. After a great deal of public lobbying, on October 1, the U.S. Senate passed an amended version of the bill, which was subsequently accepted by the House two days later. This legislation created the $700 billion Troubled Assets Relief Program (TARP).

NAFTA is the North American Free Trade Agreement. It was envisioned at least 30 years ago to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace. The impetus for NAFTA actually began with President Ronald Reagan, who campaigned on a North American common market. Prior to NAFTA, Mexican tariffs on U.S. imports were 250% higher than U.S. tariffs on Mexican imports. In 1991, Canada requested a trilateral agreement, which then led to NAFTA. NAFTA was signed into law by President Bill Clinton on December 8, 1993 and entered force January 1, 1994. Although it was signed by President Bush, it was a priority of President Clinton’s, and its passage is considered one of his first successes.

The Commodity Futures Modernization Act of 2000, which ensured that over-the-counter, or OTC, financial derivatives would remain almost entirely unregulated and which was signed into law by President Bill Clinton in December 2000, just before he left the White House. Thanks to the 2000 act, according to 2010 Congressional testimony by Michael Greenberger of the University of Maryland law school, the “multi-trillion-dollar OTC derivatives market was removed from almost all pertinent federal and state enforcement to which trading markets had been subject since the New Deal….In effect, almost no law applied to this market.”

As reported in the New York Times on February 9, 2016 Mrs. Clinton’s top donors:

-George Soros, Billionaire philanthropist and investor.                   $7.0 million

-Cheryl Saban, Philanthropist and wife of Haim Saban, an entertainment mogul.
$2.5 million

-Haim Saban, California media investor, major Democratic donor and husband of Cheryl Saban, philanthropist.
$2.5 million

-Herbert M. Sandler, Founder, with his wife, Marion, of Golden West Financial, the giant California savings and loan bought by the Wachovia Corporation in 2006.
$2.5 million

-S. Donald Sussman, Founder and chairman of Paloma Partners LLC.
$2.5 million

-Laure Woods, Bay Area philanthropist.                                           $2.3 million

-Barbara Lee, Philanthropist in Cambridge, Mass.; founder of the Barbara Lee Family Foundation and the Barbara Lee Political Office.                                                     $1.7 million

-Patricia A. Stryker, Heir to a fortune from a medical supplies company. Owner of the Stryker Sonoma winery.                                                                       $1.3 million

-Jeffrey Katzenberg, Chief executive of DreamWorks Animation. $1.0 million

-Stephen M. Silberstein, Co-founder of Innovative Interfaces, a company that develops automated systems for libraries, in 1978 and served as its first president.  $1.0 million

-Steven Spielberg, Filmmaker and chairman of Amblin Partners.   $1.0 million

-Bernard L. Schwartz, Chairman and chief executive of BLS Investments.
$1.0 million

-S. Daniel Abraham, Billionaire philanthropist and former chairman of the company that created Slim Fast diet products.                                                             $1.0 million

As Donald Trump pointed out the big donors are not giving those millions of dollars for nothing. They expect to be remembered. Their interests will come before the American people. You can expect the TPP and the TAP to be signed into law if Hillary Clinton is elected president.

My conclusion is there really is no one running for president to protect the American people.


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