Hillary Clinton Talks Tough on Shadow Banking, But Blackstone Is Celebrating at the DNC

July 28 2016, 10:38 a.m.

And yes, Wall Street and big corporation donors are crawling around at the DNC event. Money needs to be out of politics for good. And a definite NO for Hamilton “Tony” James, Blackstone COO, for U.S. Treasury head if there is a Clinton Administration!!! Great reporting, David!

Blackstone, the giant Wall Street private equity firm, will hold an invitation-only reception before the final night of the Democratic National Convention in Philadelphia. The event, at the swanky Barnes Foundation art museum, includes the usual perks for attendees: free food, drink, and complimentary shuttle buses to the final night of the convention.

What’s unusual is that the host is precisely the kind of “shadow banker” that Hillary Clinton has singled out as needing more regulation in her rhetoric about getting tough on Wall Street.

But Blackstone President and Chief Operating Officer Hamilton “Tony” James doesn’t seem the least bit intimidated.

James has been a stalwart supporter of Barack Obama, holding fundraisers for him at his home, even while other Wall Street titans criticized him — in fact the co-founder of James’s own company, Blackstone CEO Stephen Schwarzman, once likened Obama’s push to increase taxes on private-equity firms to a “war,” saying: “It’s like when Hitler invaded Poland in 1939.”

Last December, James hosted a high-dollar fundraiser for Hillary Clinton that featured Warren Buffett. He’s made six-figure donations to the Center for American Progress, known as Clinton’s White House in exile, and sits on CAP’s Board of Trustees. And he has made no secret of wanting to hold a high-level position in a future Democratic administration, perhaps even Treasury Secretary.

Read on.

One response to “Hillary Clinton Talks Tough on Shadow Banking, But Blackstone Is Celebrating at the DNC

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