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Top State Dept. Aides Would Have Violated Clinton’s Golden Parachute Plan

- October 11, 2015

Clinton’s Announced Support For The Financial Services Conflict Of Interest Act Came On The Heels Of A Letter She Received From Eight Liberal Groups “Demanding She Back The Bill.” “Last week, Clinton’s campaign received a letter from eight progressive political groups demanding she back the bill, called the Financial Services Conflict of Interest Act. On Monday, Clinton announced her support for the bill in a joint op-ed published by the Huffington Post with its sponsor, Sen. Tammy Baldwin, D-Wis.” (Andrew Perez, “Hillary Clinton Wants To Ban Wall Street Payouts To Government Officials She Allowed At State Department,” The International Business Times, 8/31/15)

Clinton Has “Confronted Criticism From Liberal Groups For Her Hiring Practices While Secretary Of State.” “The front-runner for the Democratic nomination for president, Clinton has confronted criticism from liberal groups for her hiring practices while secretary of state in the Obama administration.” (Andrew Perez, “Hillary Clinton Wants To Ban Wall Street Payouts To Government Officials She Allowed At State Department,” The International Business Times, 8/31/15)

The Legislation’s Primary Purpose Is To Block “Exactly The Situation” That Clinton Aides “Took Advantage Of” While They Served Under Clinton At The State Department. “This is exactly the situation that former Deputy Secretary Tom Nides took advantage of, as a longtime Morgan Stanley executive who served under Clinton at State before returning to the bank. When Nides left Morgan Stanley, he disclosed to the government that the bank was allowing him to cash out his shares at an accelerated rate. The situation was similar for Robert Hormats, an under secretary of state during Clinton's tenure, who wrote to the government upon taking the job that Goldman Sachs would be accelerating and paying out his restricted shares” (Samantha Lachman, “Hillary Clinton Backs Bill That Would Ban ‘Golden Parachutes’ For Wall Street,” Huffington Post, 8/31/15)

  • Thomas Nides And Robert Hormats, Received “At Least $5 Million And $250,000” From Previous Employers For Joining Clinton’s State Department. “Two of Clinton’s top deputies at the State Department -- Thomas Nides and Robert Hormats -- received at least $5 million and $250,000 from Morgan Stanley and Goldman Sachs, respectively, for joining Clinton’s State Department.” (Andrew Perez, “Hillary Clinton Wants To Ban Wall Street Payouts To Government Officials She Allowed At State Department,” The International Business Times, 8/31/15)

Nides, A “Leading Candidate For A High-Level Position In A Hillary Clinton White House,” Returned To His Former Employer Following His Tenure At The State Department. “When Clinton left the State Department, Nides returned to Morgan Stanleyas a vice chairman. He is reportedly a leading candidate for a high-level position in a Hillary Clinton White House.”(David Dayen, “Two Big Reasons Hillary Clinton Isn’t Taking Elizabeth Warren’s Revolving-Door Dare,” The Intercept, 7/30/15)


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