Donald Trump, the billionaire real estate mogul and Republican Party frontunner, told CBS News this past weekend that Jeb Bush and Hillary Clinton are bought by the major hedge funds in the United States.
For all of the things Trump says, he may not be necessarily wrong on this one.
This past summer, we reported that Wall Street banks are betting on Jeb Bush and Hillary Clinton. During the second quarter of this year, dozens of Goldman Sachs, Neuberger Neuben, Credit Suisse Group AG, Morgan Stanley and JPMorgan Chase & Co. executives and employees contributed hundreds of thousands of dollars to the Jeb Bush and Hillary Clinton campaigns.
Both presidential candidates have had strong ties to Wall Street. Investment banks contributed to Clinton’s senate and presidential campaigns, while Bush actually drew a paycheck from the Lehman Brothers; he also has family working on Wall Street.
In July, the Wall Street Journal had an interesting paragraph on Clinton and her connections to Wall Street:
“The Clintons have long enjoyed ties to Wall Street, a vulnerability for her with some Democratic primary voters who blame big banks for many of the nation’s financial problems. In an economic speech this week, she vowed to tighten oversight of the industry but steered clear of the regulatory proposals most loathed on Wall Street that have been offered by her Democratic challengers.”
What does Trump have to say about all of this? Well, whenever Bush or Clinton say they want and have to change this, that and the other you shouldn’t believe them because “they’re totally controlled.”
Here are Trump’s entire remarks about the hedge funds’ effects on the Bush and Clinton campaigns:
“I know these guys. They’re all supporting Jeb Bush, for the most part, and Hillary Clinton. It’s funny when I hear them talk about, ‘Oh, we’ve got to change this and that,’ they don’t mean it because they’re totally controlled. In particular, Hillary and Jeb are controlled by the hedge fund guys, you know the Wall Street guys but hedge funds in particular. They pay very little tax, and when I come out with my poll over the next three weeks … for the middle class, we’re going to be cutting taxes, but the hedge fund guys will be paying up.”
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