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(Reuters) - Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.
Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week.
Bank officials said the idea of withholding donations was not discussed at a meeting of the four banks in Washington but it has been raised in one-on-one conversations between representatives of some of them. However, there was no agreement on coordinating any action, and each bank is making its own decision, they said.
The amount of money at stake, a maximum of $15,000 per bank, means the gesture is symbolic rather than material
Moreover, banks' hostility toward Warren, who is not a presidential candidate, will not have a direct impact on the presumed Democratic front runner in the White House race, Hillary Clinton. That's because their fund-raising groups focus on congressional races rather than the presidential election
www.reuters.com...
originally posted by: Spider879
a reply to: tothetenthpower
Damned Bill Clinton I liked the guy but lets be honest destroying Glass–Steagall was the worst economic/financial decision in 60yrs. he set us back big time yes Bush busted the economy but not without the help of Bill, do you think his wife as POTUS and him as first man, would re-install the act?
originally posted by: tothetenthpower
a reply to: SlapMonkey
I would agree with you, if not for the fact that the banking cartels have colluded in order to make sure that you NEED those loans in order to survive.
Look at the cost of living vs wages? We are a credit society by design, not by want. If wages had increased at the same rate as profits and productivity, this problem would not really exist.
As it stands, people can't live off their wages, so they have to borrow.
~Tenth
I would argue that this is incorrect--people are gullible and succumb to the peer pressure of needing all kinds of technologies, or nice cars, or big homes or whatever, but the reality of life is that it's very easy not to live off of loans and debt.
originally posted by: ugmold
a reply to: Spider879
Campaigns should be financed directly from the Taxpayers, everyone the same. As it is the cost is far higher when the Money Maggots are the backers, destroyers of the Republic.
originally posted by: Spider879
(Reuters) - Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.
Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week.
Bank officials said the idea of withholding donations was not discussed at a meeting of the four banks in Washington but it has been raised in one-on-one conversations between representatives of some of them. However, there was no agreement on coordinating any action, and each bank is making its own decision, they said.
The amount of money at stake, a maximum of $15,000 per bank, means the gesture is symbolic rather than material
Moreover, banks' hostility toward Warren, who is not a presidential candidate, will not have a direct impact on the presumed Democratic front runner in the White House race, Hillary Clinton. That's because their fund-raising groups focus on congressional races rather than the presidential election
www.reuters.com...
Pls klik for the rest and to view video.
This is exactly why in my not so humble opinion she should run for president,I wished she would change her mind,for even if Hilary end-up beating her, hopefully she and the corporatist Dems would get the message..which I doubt but there shouldn't be a coronation.