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Why Hillary Clinton voted for the Bankruptcy Bill

 
 
Reply Fri 5 Feb, 2016 06:49 pm
This explains, more than anything else I have seen, what this campaign is about.



Quote:
Warren — at the time a Harvard law professor — recounted how, in the 1990s, she wrote an editorial opposing a proposed piece of legislation tightening bankruptcy laws. Warren explained that it would disproportionately hurt single mothers. Hillary Clinton, at the time the first lady, read the editorial, and asked for a meeting with Warren. The meeting went well; Warren said she “never had a smarter student.” Afterward, Clinton returned to Washington and, according to her biography, persuaded Bill Clinton to veto the legislation.

But when Hillary Clinton was elected to the Senate and another version of the same bill came to the floor, she did an about face:

ELIZABETH WARREN: She voted in favor of it.

BILL MOYERS: Why?

ELIZABETH WARREN: As Senator Clinton, the pressures are very different. It’s a well-financed industry. You know a lot of people don’t realize that the industry that gave the most money to Washington over the past few years was not the oil industry, was not pharmaceuticals. It was consumer credit products. Those are the people. The credit card companies have been giving money, and they have influence.

BILL MOYERS: And Mrs. Clinton was one of them as senator.

ELIZABETH WARREN: She has taken money from the groups, and more to the point, she worries about them as a constituency.

BILL MOYERS: But what does this mean though to these people, these millions of people out there whom the politicians cavort in front of as favoring the middle class, and then are beholden to the powerful interests that undermine the middle class? What does this say about politics today?

ELIZABETH WARREN: You know this is the scary part about democracy today. It’s… We’re talking again about the impact of money. The credit industry on this bankruptcy bill has spent tens of millions of dollars lobbying, and as their profits grow, they just throw more into lobbying for how they can get laws that will make it easier and easier and easier to drain money out of the pockets of middle class families.

 
Kolyo
 
  4  
Reply Fri 5 Feb, 2016 07:34 pm
Yes, and you're the one who insists that America is still a Democracy. We're not. We're a hybrid of democracy and plutocracy. Clinton has to function in both spheres. She has to throw her backers a bone once in a while. She will continue to do so in her first term, in order to win a second.

My principal reason for supporting her is the people she can appoint to the Supreme Court who might allow laws to pass that will make it easier for those like Sanders to win.

Has Warren endorsed anyone yet? I don't think she will. I decided that last night. The reason is that she wants Clinton to win the nomination but also believes that she, Warren, would make a great running mate for Sanders.

revelette2
 
  3  
Reply Sat 6 Feb, 2016 08:48 am
@Kolyo,
True, if a democrat wins, he/she will appoint judges who might overturn Citizens United and the bankruptcy bill which allows Trump to escape his failing businesses and still mange to profit from it.
0 Replies
 
Lash
 
  1  
Reply Sat 6 Feb, 2016 09:32 am
Thanks for this, Max.

My daughter and I spend Saturday morning reading news - and five minutes ago, she played this and told me to listen.

Hillary baited Bernie to find proof of her changing policy for bucks. Shaun King viraled this on Twitter and facebook.

And lovely that Warren plays such a pivotal role in this latest bit of truthtelling.
0 Replies
 
Lash
 
  1  
Reply Sat 6 Feb, 2016 11:34 am
@Kolyo,
Warren is so smart. I wonder what the pros and cons are in her decision process about endorsement. I'd love to know.
Kolyo
 
  1  
Reply Sat 6 Feb, 2016 01:00 pm
@Lash,
Lash wrote:

Warren is so smart. I wonder what the pros and cons are in her decision process about endorsement. I'd love to know.


Her process is probably the same as mine and the rest of the democratic establishment, favoring Clinton because we think Clinton can actually win. Just because she's smarter than the rest of us doesn't mean her thought process has to be insanely complicated all the time. But of course I don't know that. I'm just guessing. With someone like her, I always half expect to be proven wrong.
Lash
 
  1  
Reply Sat 6 Feb, 2016 01:03 pm
@Kolyo,
Then why won't she bow to the pressure to endorse Clinton?
Kolyo
 
  1  
Reply Sat 6 Feb, 2016 01:31 pm
@Lash,
Think what would happen if she endorsed Clinton, and then Sanders won the nomination. A lot of people would look at Warren as a possible running mate. Clinton can't pick Warren as a running mate, because Hillary worries too much about what Wall Street thinks. But Bernie wouldn't need to have any such qualms. He's already pissed off banks as much as is humanly possible.

So let's say Bernie picks her to run with him and she accepts. How does Warren then justify having endorsed Clinton earlier? Does she say something like "oh I just didn't think Bernie could win"? Nah, she's his pick for vice president at that point. She can't say that.

But that's just my theory of course, which occurred to me when Calamity Jane mentioned her as a possible VP. The truth could be a lot simpler. Warren could take Ed's view of things--that it's Bernie now or no one ever.
Lash
 
  1  
Reply Sat 6 Feb, 2016 01:44 pm
@Kolyo,
Thanks. I love prognosticating during political season.

What you're describing about Warren's quiet sounds feasible -maybe routine endorsement-CYA politics... (You know: cover your ass).

I just thought Warren was a bit more authentic. She's openly criticized Clinton and was notably absent at a Clinton event; she's defended Bernie in the media, so these things make me wonder more...
0 Replies
 
momoends
 
  1  
Reply Sat 25 Jun, 2016 11:10 pm
@maxdancona,
No news good news... all of the politicians, senators, judges, ... anyone has to bend to financial companies ruling the world... at least she was once pure enough to think it could be changed .... a lot of those beggining their path to powerful clases of our society just want to undestand the beast so they can control it from the very first moment
0 Replies
 
 

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