Hillary has been trying to distance herself from the speaking fee issue, and for good reason. It calls into question who owns her and the focus of her policies. I think you need to look at not only who has paid her, but also Bill Clinton. Why? Because, let’s be clear. He will be with her and providing guidance at times on issues. If you get Hillary, you get Bill, just like when he was President. Let’s take a look!
Back in 2006, The New York Times noted that the “Clintons Say Their Income Topped $8 Million Last Year”, noting:
One major source of income was the speaking fees Mr. Clinton collected. The statement showed that he earned more than $7.5 million for 43 speeches that he gave to groups as varied as the Goldman Sachs Group, the Lancaster, Pa., Chamber of Commerce, the Young Presidents’ Organization and Leading Minds in Dubai in the United Arab Emirates.
The $7.5 million far surpassed the $875,000 he earned for speaking engagements in 2004, when his speaking schedule was slowed because he was busy releasing his memoir, traveling around the nation promoting it, opening his presidential library in Arkansas and undergoing heart surgery.
In 2003, he earned more than $4 million for speeches given worldwide.
This was while she was in the US Senate. CNN’s Political Ticker in 2013 noted that:
As former Secretary of State Hillary Clinton embarks on her new career as a paid speaker, she joins a lucrative family business that already has earned her husband more than $100 million since leaving office in 2001.
According to a CNN analysis of 12 years of federal financial records, former President Bill Clinton had his most active and profitable year on the lecture circuit in 2012, delivering 73 speeches for $17 million from mid-January 2012 through mid-January 2013. That brought his total haul in speaking fees since leaving the White House to $106 million. His previous record for annual speech income was $13.4 million in 2011.
President Clinton’s speaking fees were detailed Wednesday in a financial disclosure report that his wife was required to file after resigning as secretary of state.
Now, let me be clear that its not unusual for former presidents to go out and speak and make money. Still, it’s something we need to consider when that former president’s spouse is possibly going to be president. ZeroHedge has a breakdown of who both Bill and Hillary have spoken to, and earned from, since 2013. Let’s first look at some of Bill’s speaking engagements:
- Samsung Electronics for $450,000
- Kotak Mahindra Bank for $500,000
- Zurich Financial for $285,000
- UBS Wealth Management for a combined $850,000
- Handelsbanken Capital Markets for $850,000
- Media Control GMBH for $300,000
- Goldman Sachs for $200,000
- JP Morgan for $300,000
- Securities Industry and Financial Markets Association for $250,000
- Global Alliance of SMEs for $500,000
- SEEC Media Group for $500,000
- SAP Global Marketing for $700,000
- Thomas Lloyd Global Asset Management for $200,000
- Bank of America for $500,000
- Kessler Topaz Meltzer & Check, LLP for $500,000
- SCIP Capital Management for $250,000
- Deutsche Bank for $270,000
- Veritas Capital Fund Management for $250,000
- Citadel for $250,000
His combined total, noting that ZeroHedge covered these from 1/9/2013 to 5/14/2015 was $26,630,000.
Now, Hillary began speaking after leaving her position as Secretary of State. Politico noted her entering the speaking circuit back in February of 2013, stating:
Former Secretary of State Hillary Clinton will hit the paid speaking circuit this spring (likely April or May) and has selected the Harry Walker Agency, which represents President Clinton, as her agent. Industry officials expect that she will be one of the highest paid speakers in the history of the circuit, with fees well into the six figures in the United States and abroad. Secretary Clinton will likely do some speeches for no fee for causes she champions, and expects to occasionally donate her fees for charitable purposes.
ZeroHedge also took note of her speaking engagements. Let’s take a look:
- Morgan Stanley for $225,000
- Deutche Bank for a combined total of $505,000
- Fidelity Investments for $225,000
- Apollo Management Holdings for $225,000
- Itau BBA USA Securities for $225,000
- Sanford C. Bernstein and Co. for $225,000
- Goldman Sachs for a combined total of $675,000
- Spencer Stuart for $225,000
- Society for Human Resource Management for $285,000
- Boston Consulting Group for $225,000
- Kohlberg Kravis Roberts and Company for $225,000
- UBS Wealth Management for $225,000
- Global Business Travel Association for $225,000
- SAP Global Marketing for $225,000
- Accenture for $225,000
- Golden Tree Asset Management for $275,000
- Bank of America for $225,000
- CB Richard Ellis for $250,000
- CME Group for $225,000
- Press Ganey for $225,000
- Salesforce.com for a combined total of $450,500
- Novo Nordisk for $125,000
- Marketo for $225,500
- GTCR for $280,000
- Ameriprise for $225,500
- Robbins Geller Rudman & Dowd LLP for $225,500
- Advanced Medical Technology Association for $265,000
- Canadian Imperial Bank of Commerce for $150,000
If you look through this list, you’ll see that Goldman Sachs was just the tip of the iceberg. ZeroHedge notes her total from all of her speaking fees (again, he has the whole list. I cherry picked, so go see) is $21,667,000.
“We came out of the White House not only dead broke, but in debt,” Clinton told Sawyer, referring to the hefty legal fees incurred during their White House years. “We had no money when we got there, and we struggled to, you know, piece together the resources for mortgages, for houses, for Chelsea’s education. You know, it was not easy.”
This is something Politifact found Mostly False, stating that:
A few weeks before they left the White House, the Clintons were able to muster a cash down payment of $855,000 and secure a $1.995 million mortgage. This hardly fits the common meaning of “dead broke.”
Here is one of the takeaways from all of this. Bill and Hillary are out of touch with the plight of the common person. I am supporting Bernie because not only is he more in touch with what middle class citizens (those who are left) may be experiencing, but also because he hasn’t been paid to the tunes of millions for someone to come and speak to them. It matters because they are paying not only for them to speak but also to have access to power brokers that will influence them.
Bernie’s net worth, according to MoneyNation, is $528,014. In a couple of days, heck a couple of hours, Hillary would have almost that much in her coffers from speaking. And that is the problem.
So, here is the question: who do you trust to hold Wall Street accountable?