Today, in an economic speech at the New School in Manhattan, Hillary Clinton spoke out against short-term traders.
"The problems are not limited to the big banks that get all the headlines. Serious risks are emerging from institutions in the so-called shadow banking system, including hedge funds, high-frequency traders, non-bank finance companies," said the Democratic presidential candidate.
Clinton added: "I will soon be proposing a new plan to reform capital gains taxes to reward longer-term investments that create jobs more than just quick trades."
But Clinton’s attack today could open her up to charges of hypocrisy.
Raj Fernando, the CEO of high-frequency trading firm Chopper Trading, is hosting a fundraiser for Clinton next week.
“Hillary Clinton is coming to Chicago for a private fundraiser July 21 hosted at the home of Raj Fernando, CEO of Chopper Trading, a high-frequency trading firm that recently was purchased by Chicago-based DRW,” Chicago Business reports.
Plus, hedge fund managers have hosted numerous Clinton fundraisers.
Many on the left (and the right!) are already skeptical of how serious Clinton is about cracking down on Wall Street. This probably won’t help.