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Photo: Spencer Platt/Getty Images
Hillary Clinton Fundraiser Hosted by All-Star Cast of Financial Regulators Who
Joined Wall Street
Zaid Jilani
Zaid Jilani
Apr. 6 2016, 5:38 p.m.
Photo: Spencer Platt/Getty Images
AS HILLARY CLINTON questions rival Bernie Sanders over the depth of his
financial reform ideas this week, a group of former government officials — once
tasked with regulating Wall Street and now working in the financial industry or
as Wall Street lobbyists — are participating in a fundraiser for her in the
nation’s capital.
The invitation for the April 6 fundraiser, obtained by Sunlight Foundation’s
Political Party Time, describes a “conversation” with the Clinton campaign’s
chief financial officer, Gary Gensler, and Sens. Sherrod Brown, D-Ohio, and
Carl Levin, D-Mich.
The host: Julie Chon, a former Senate Banking Committee staffer who today is a
managing director at the New York hedge fund Perry Capital.
Finance chair Gensler is a former Goldman Sachs staffer who later joined the
Obama administration as a financial regulator.
Several members of the organizing committee are now either advocating for
corporate clients or advising them how to best work with and around the
regulations they once enforced.
One member of the committee is Raj Date. Date was the deputy director of the
Consumer Financial Protection Bureau, tasked with reining in Wall Street
abuses. In January 2013, he left the bureau and by April started a new lending
firm, Fenway Summer. He then became an adviser to Promontory Financial Group,
which pitches Date as advising its “clients on complying with consumer
protection regulation and managing complex risks.”
Another member of the organizing committee is Bob Heckart. Heckart is a former
Senate staffer who, according to his bio, worked on the “implementation of the
Dodd-Frank Act and the Volker Rule, tax reform legislation, abuse of corporate
tax loopholes, securities markets regulation, and other financial policy
issues” for Sen. Levin. Prior to that, he was senior adviser for economic and
financial policy for then-Sen. Kirsten Gillibrand, D-N.Y., and served as “her
liaison with Wall Street.” Today, he is a senior counsel at Davis Polk &
Wardwell LLP, the same major Wall Street law firm he worked for before getting
hired by Gillibrand. His practice focuses on hedge funds, capital markets,
credit, and real estate.
Tyler Gellasch, another organizer of the fundraiser, also worked for Levin. His
biography describes him as having been “intimately involved in drafting several
high-profile pieces of legislation, including the Volcker Rule provisions of
the Dodd-Frank Act, the crowdfunding provisions of the JOBS Act, and the
securities law provisions of the STOCK Act.” Gellasch today works for the
Healthy Markets Association, a group that advocates for its members, which
include various financial firms.
Organizer Dan M. Berkovitz was the general counsel of the Commodity Futures
Trading Commission from 2009 to 2013. Today, he is a partner at WilmerHale LLP,
which says his “clients, both domestic and international, include entities in
ongoing U.S. Commodity Futures Trading Commission (CFTC) investigations,
multi-national swap dealers, managed funds, a major U.S. manufacturer, and
industry trade and advocacy associations.”
Organizer Shawn Maher worked for the Senate Banking, Housing, and Urban Affairs
Committee during the height of the financial crisis years, between 2007 and
2009. Since 2011, he has been a lobbyist for both RBC Capital Markets and the
Royal Bank of Canada.
Related:
• Hillary Clinton Now Says She’ll Only Release Big-Bank Speeches if the
Republicans Do
• Hillary Clinton Made More in 12 Speeches to Big Banks Than Most of Us
Earn in a Lifetime
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42
Hillary Clinton Fundraiser Hosted by All-Star Cast of Financial Regulators Who
Joined Wall Street
/staff/zaidjilani/ /staff/zaidjilani/
/staff/zaidjilani/ /staff/zaidjilani/
Zaid Jilani
Apr. 6 2016, 5:38 p.m.
Photo: Spencer Platt/Getty Images
AS HILLARY CLINTON questions rival Bernie Sanders over the depth of his
financial reform ideas this week, a group of former government officials — once
tasked with regulating Wall Street and now working in the financial industry or
as Wall Street lobbyists — are participating in a fundraiser for her in the
nation’s capital.
The invitation for the April 6 fundraiser, obtained by Sunlight Foundation’s
Political Party Time, describes a “conversation” with the Clinton campaign’s
chief financial officer, Gary Gensler, and Sens. Sherrod Brown, D-Ohio, and
Carl Levin, D-Mich.
https://prod01-cdn07.cdn.firstlook.org/wp-uploads/sites/1/2016/04/Screen-Shot-2016-04-06-at-5.12.47-PM.png
https://prod01-cdn07.cdn.firstlook.org/wp-uploads/sites/1/2016/04/Screen-Shot-2016-04-06-at-5.12.47-PM.png
The host: Julie Chon, a former Senate Banking Committee staffer who today is a
managing director at the New York hedge fund Perry Capital.
Finance chair Gensler is a former Goldman Sachs staffer who later joined the
Obama administration as a financial regulator.
Several members of the organizing committee are now either advocating for
corporate clients or advising them how to best work with and around the
regulations they once enforced.
One member of the committee is Raj Date. Date was the deputy director of the
Consumer Financial Protection Bureau, tasked with reining in Wall Street
abuses. In January 2013, he left the bureau and by April started a new lending
firm, Fenway Summer. He then became an adviser to Promontory Financial Group,
which pitches Date as advising its “clients on complying with consumer
protection regulation and managing complex risks.”
Another member of the organizing committee is Bob Heckart. Heckart is a former
Senate staffer who, according to his bio, worked on the “implementation of the
Dodd-Frank Act and the Volker Rule, tax reform legislation, abuse of corporate
tax loopholes, securities markets regulation, and other financial policy
issues” for Sen. Levin. Prior to that, he was senior adviser for economic and
financial policy for then-Sen. Kirsten Gillibrand, D-N.Y., and served as “her
liaison with Wall Street.” Today, he is a senior counsel at Davis Polk &
Wardwell LLP, the same major Wall Street law firm he worked for before getting
hired by Gillibrand. His practice focuses on hedge funds, capital markets,
credit, and real estate.
Tyler Gellasch, another organizer of the fundraiser, also worked for Levin. His
biography describes him as having been “intimately involved in drafting several
high-profile pieces of legislation, including the Volcker Rule provisions of
the Dodd-Frank Act, the crowdfunding provisions of the JOBS Act, and the
securities law provisions of the STOCK Act.” Gellasch today works for the
Healthy Markets Association, a group that advocates for its members, which
include various financial firms.
Organizer Dan M. Berkovitz was the general counsel of the Commodity Futures
Trading Commission from 2009 to 2013. Today, he is a partner at WilmerHale LLP,
which says his “clients, both domestic and international, include entities in
ongoing U.S. Commodity Futures Trading Commission (CFTC) investigations,
multi-national swap dealers, managed funds, a major U.S. manufacturer, and
industry trade and advocacy associations.”
Organizer Shawn Maher worked for the Senate Banking, Housing, and Urban Affairs
Committee during the height of the financial crisis years, between 2007 and
2009. Since 2011, he has been a lobbyist for both RBC Capital Markets and the
Royal Bank of Canada.
Related:
• Hillary Clinton Now Says She’ll Only Release Big-Bank Speeches if the
Republicans Do
• Hillary Clinton Made More in 12 Speeches to Big Banks Than Most of Us
Earn in a Lifetime