Hillary Clinton will be giving a speech to Canadian Imperial Bank of Commerce for probably about a quarter of a million dollars. The Toronto based bank has a long history of breaking the law. Three times they have been fined for violating SEC regulations and US law, most notably their complicity with ENRON to mislead their investors. They were fined 80 million dollars for that infraction.
Clinton, who is trying to pretend that she relates to everyday middle class voters, is stepping into to the sewer again. The bottom line for her is money. The average American could never receive a quarter of a million from a bank hoping to buy influence in a possible Hillary Clinton presidency. McClatchy reports:
In 2003, the Canadian Imperial Bank of Commerce settled a case with the Securities and Exchange Commission for $80 million for allegedly helping the Enron energy company mislead investors through a series of transactions over a period of several years, according to the SEC. At least two executives agreed to settle charges of aiding and abetting the fraud, paying a total of $600,000.
In 2005, CIBC settled another case with SEC for $125 million after it was accused of financing late trading to increase their customers’ trading profits at the expense of long-term mutual fund shareholders, according to the SEC.
And again in 2005, the bank agreed to pay nearly a half million dollars to settle SEC allegations that it broke the law by underwriting municipal securities for the state of California after making campaign donations to six politicians, including former Democratic California Gov. Gray Davis, according to the SEC. Securities law forbids a corporate donor from doing municipal securities work for an issuer within two years of a contribution.
Hillary says that we need to empathize with our enemies, but that will never happen. It’s not that she’s a woman. They just want nothing to do with pigs.
Courtesy of Red Statements.