Yesterday the Senate Banking Committee announced that the confirmation hearing for Trump’s nominee to Chair the Securities and Exchange Commission, Jay Clayton, will be held on March 23. Expect fireworks in the hearing from Democrats who are mad as hell at the myriad conflicts of this nominee.
When Clayton’s name was first announced by the Trump camp, Senator Sherrod Brown, the Democrat’s ranking member of the Senate Banking Committee, sent out a press release with this statement:
‘It’s hard to see how an attorney who’s spent his career helping Wall Street beat the rap will keep President-elect Trump’s promise to stop big banks and hedge funds from ‘getting away with murder.’ I look forward to hearing how Mr. Clayton will protect retirees and savers from being exploited, demand real accountability from the financial institutions the SEC oversees, and work to prevent another financial crisis.’
Last evening, Our Revolution, the organization created by supporters of Senator Bernie Sanders after his failed bid for the Presidency, ramped up the heat against Clayton with an email blast asking Sanders’ supporters to sign a petition against Clayton. The email message read in part:
‘Clayton’s ties to Wall Street are deep. His law firm specializes in protecting Wall Street banks, and during the financial crisis he worked as a bailout attorney for Goldman Sachs, where his wife works today… The SEC chair is supposed to referee Wall Street banks, but Clayton has spent his entire career protecting their interests – and more than half of his family income currently comes from one of them. How can he be trusted to suddenly switch sides and put working Americans first?’
This post was published at Wall Street On Parade By Pam Martens and Russ Marte.