Clinton Backs Warren’s Bill Banning Wall Street Bonuses For Government Officials

When everything went to hell in a hand basket in 2008, Americans were furious that their tax dollars for the bailouts also went to golden parachutes for Wall Street executives. They played their part in crashing the economy and received hundreds of millions of dollars (billions even) in fancy perks and bonuses. Something the average American didn’t get.

Private executives who took these bailouts also had no problem then taking on jobs within the federal government, potentially sweetening more deals for their friends on Wall Street.

In fact, that did happen. Thomas Nides and Robert Hormats, executives from Morgan Stanley and Goldman Sachs, happily took these “golden parachutes” after they started working in the State Department.

Take a wild guess who took action? Senator Elizabeth Warren, arguably Wall Street’s biggest enemy. In July, Warren introduced the Financial Services Conflict of Interest Act which would bar any federal employees who were previously Wall Street executives from acquiring these parachutes.

The bill would also tighten lobbying restrictions, like lengthening the “cooling-off period” between a public servant’s time in office and the beginning of lobbying activities, and require financial regulators to exempt themselves from other conflict of interests.

It’s no surprise Warren would take this on, seeing as though she’s making it her mission in the Senate to see Wall Street held accountable. Warren called it “a bill any presidential candidate should be able to cheer for.”

And with that, a seemingly unlikely Democratic presidential candidate is backing the Senator’s efforts: Hillary Clinton.

Clinton, who is seen by some Democrats as being too friendly with Wall Street, wrote in an op-ed for the Huffington Post with Senator Tammy Baldwin (D-WI):

“The American people need to be able to trust that every single person in Washington—from the President of the United States all the way down to agency employees—is putting the interests of the people first. We want to do more to make sure that happens.”

“This bill is full of sensible ideas like these. It should become law. Congressman Elijah Cummings is co-sponsoring it in the House, and we hope more Members of Congress join us in supporting it.”

As doubts surround Clinton’s commitment to taking on Wall Street mount with Bernie Sanders’ populist rhetoric resonating with the electorate, the backing of this bill could ease tensions among ideologues in the Democratic Party.

It’s no secret that Elizabeth Warren is leaving her mark on this election.

Image is a screen caption of an economic speech given by Hillary Clinton