Is Hillary Clinton in the pocket of Wall Street insiders or ready to take them down if she becomes president? Cozying up to a billionaire investor could help answer that question, but not in the way you think.
Warren Buffett has made no secret of his support for Hillary Clinton, and on December 16, he'll join the Democratic presidential frontrunner on the campaign trail in his hometown of Omaha for a fundraiser. For someone who has pledged to get tough on Wall Street, you might think that teaming up with one of finance's top players would look bad for HRC. But that's not the case.
"Warren Buffett is perceived by the public as America's investor," said Robert Schmuhl, a professor of American studies at the University of Notre Dame. "The 'Wizard of Omaha' isn't really seen as a creature of Wall Street, and as a result his association with Hillary Clinton isn't a detriment to her candidacy."
Clinton has promised to take a strong stance against misbehavior in finance on the campaign trail. She penned an op-ed for The New York Times outlining her plan of attack for the industry just this week in part to prove she is not in the Wall Street's pocket, as has been suggested. The other leading candidate for the Democratic nomination, Vermont democratic socialist Senator Bernie Sanders, called her approach to Wall Street "not good enough."
Buffett's seal of approval, however, should boost Clinton's tough-on-Wall-Street creds.
First, Buffett has been critical of Wall Street and supportive of policies that Wall Street typically hates.