At the MSNBC Democratic forum hosted by Rachel Maddow on November 6, 2015, Hillary Clinton was asked to respond about her connection with Wall Street and if they were too much of an influence on her. Clinton steadfastly denied that anyone can influence what she does politically. She went on to say:
I went to Wall Street, I went to the Nasdaq in December of 2007 and basically said, ‘You guys have got to stop it.’
There’s a few points to be made here. Hillary Clinton did, in fact, give a speech to Nasdaq on December 5, 2007. In the quote above she claims she took a tough approach with Wall Street, but the speech tells a different story. Courtesy of Jeff Gerth, ProPublica:
Clinton gave a shout-out to her “wonderful donors” in the audience, and asked the bankers to voluntarily suspend foreclosures and freeze interest rates on adjustable subprime mortgages. She praised Wall Street for its role in creating the nation’s wealth, then added that “too many American families are not sharing” in that prosperity.
Not exactly the tough stance Clinton often speaks about. Another issue that isn’t being discussed is the fact that she went to the Nasdaq. Most people aren’t well-versed in the stock market so it hasn’t really raised any questions. The subject Rachel Maddow brought up was about Wall Street influence, or in other words, the biggest banks and financial institutions that wrecked the economy. These businesses are referred to as “Wall Street” because they trade on the New York Stock Exchange (NYSE). Why, then, would Hillary Clinton choose to have Nasdaq as her audience to deliver her tough talk? While there were banks and financial institutions that traded on the Nasdaq and were bailed out, they pale in comparison to the largest offenders. The top ten banks and financial services who were recipients of bailout funds all traded on the NYSE. Together they accounted for more than $185 billion of relief protection. If Hillary Clinton really wanted to make an impact statement to the key players responsible for the eventual recession of 2008, then she went to the wrong place. Was it a mistake or by design? You be the judge.