In the two years between April 2013 and March 2015, senator and secretary of state Hillary Clinton collected $21,667,000 in “speaking fees.” We have so far not been allowed to see what words of wisdom Clinton shared. But thanks to mandatory financial disclosures released this month, we can see which corporations were buying and note multiple trips to Goldman Sachs. Morgan Stanley. Deutsche Bank. Kohlberg Kravis Roberts. UBS Wealth Management among others… See the full list in this NY Post article: How corporate America bought Hillary Clinton for $21 million. Beside is a snapshot of the first 10. This kind of money doesn’t come for free. At the very least it creates apprehension of bias and undermines objectivity and public trust.
Clinton is a vivid example of policy makers for hire. But she is far from alone. Rampant conflicts of interest are bipartisan thanks to revolving doors between government and business. Rules have to be implemented requiring minimum cooling off periods between public office and consulting gigs in private practice. Also there must be mandatory disclosures of all such fees and speech transcripts. Transparency is critical to demanding better behavior and personal accountability.
Cory’s Chart Corner
“An explosive critique about the investment industry: provocative and well worth reading.”
“Juggling Dynamite, #1 pick for best new books about money and markets.”
“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.”