Bernie Sanders has leveraged the fact that Hillary Clinton received speaking fees from Wall Street firms against her. In the Democratic debate hosted by NBC News, Sanders blasted her for taking $600,000 in speaking fees from Goldman Sachs, a charge to which Hillary didn’t have much of a response — because its true.When both candidates want to blast the system as working for the wealthy, the last thing either wants is to be exposed as part of that system.
Unfortunately for Hillary, Bernie was just scraping the tip of the iceberg in mentioning her Goldman Sachs speaking fees. The total fees her husband and her have received is over 250 times higher.
Hillary Clinton and her husband, former President Bill Clinton, combined to earn more than $153 million in paid speeches from 2001 until Hillary Clinton launched her presidential campaign last spring, a CNN analysis shows.In total, the two gave 729 speeches from February 2001 until May, receiving an average payday of $210,795 for each address. The two also reported at least $7.7 million for at least 39 speeches to big banks, including Goldman Sachs and UBS, with Hillary Clinton, the Democratic 2016 front-runner, collecting at least $1.8 million for at least eight speeches to big banks.
The analysis was made at a time when Hillary Clinton has been under scrutiny for her ties to Wall Street, which has been a major focus of Vermont Sen. Bernie Sanders on the campaign trail.
“What being part of the establishment is, is in the last quarter, having a super PAC that raised $15 million from Wall Street, that throughout one’s life raised a whole lot of money from the drug companies and other special interests,” Sanders said at Thursday’s Democratic debate hosted by MSNBC.The former secretary of state testily responded to Sanders’ charges.
“Time and time again, by innuendo, by insinuation, there is this attack that he is putting forth which really comes down to, you know, anybody who ever took donations or speaking fees from any interest group has to be bought. And I just absolutely reject that, senator, and I really don’t think these kinds of attacks by insinuation are worthy of you. And enough is enough,” Clinton said.Considering the special favors she’s dished out to her Saudi donors, I’ll have to question the argument she made in the last paragraph.
Bernie Sanders has a net worth of $700,000 – so in just a few hours of speeches the Clintons could accumulate what he has over a lifetime. This is no endorsement of Bernie, but if one of the two Democrats running is actually serious in their beliefs about the system being corrupt, I think it’s obvious which one isn’t.
[Note: This post was authored by The Analytical Economist]