IBT: Hillary Clinton Could Turn Taxpayer Funds into Revenue Stream for Her Wall Street Donors

David Sirota writes in the International Business Times that a Wall Street executive who could be Hillary Clinton’s choice for Treasury Secretary has a plan to give the financial industry control over billions in taxpayer funds for retirement savings. This plan, Sirota notes, would “enrich” the Wall Street hedge fund and private equity industries “that have donated millions to support Clinton’s presidential bid.”

From IBT:

While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.

The investment colossus is most famous in politics for its Republican CEO likening an Obama tax plan to a Nazi invasion. James, though, is a longtime Democrat — and one of Clinton’s top fundraisers. The billionaire sculpted the retirement initiative with a prominent labor economist whose work is supported by another investment mogul who is a big Clinton donor. The proposal has received bipartisan praise from prominent economic thinkers, and James says that Clinton’s top aides are warming to the idea.

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