In an effort to scare other potential Democratic candidates out of the race, Hillary’s donors and bundlers are boasting that they will overwhelm the nation with the most massive financial coffer ever assembled for an American political campaign.
But there’s a big danger lurking behind this: Hillary’s donor list will become fodder for her coziness to Wall Street and big corporations. It will easily be transformed from a big positive to a big negative.
The Hill quotes Don Peebles, Obama’s former national finance chairman claiming that “the floodgates are going to open immediately” after Hillary announces. “There’s going to be a rush to get on the team.”
A top Democratic donor said “the numbers will be astounding.” Financial shock and awe.
But, here’s the problem. Apparently, Hillary doesn’t realize that such massive fund raising will simultaneously make her massively vulnerable to attacks on her Wall Street connections, her ties to special interests, and the sometimes questionable of both Clintons when it comes to making a buck.
Hillary’s donor list will be her negative ads — providing hard evidence of her corporate cronies and playing right into her central new vulnerability: That she is on the wrong end of class warfare.
Hillary and her handlers are like the generals of France in that they are reputed to go into each war perfectly prepared to win the last one. That’s where she’s headed. She’s going to make sure that she doesn’t run out of money like she did last time.
Bill Clinton, at least, should know better. Some of his toughest campaigns in Arkansas were won by his ability to attack his opponents for their dependence on utility money. The aspersions he cast on Sheffield Nelson, his 1990 opponent with close ties to the utilities, helped to get him re-elected again and again in Arkansas.
The world has come back around. Internet money is seen to be clean because it can’t be traced. Donations of under $100 need not be reported. But if Hillary’s donor base is anything like the list of those who have paid speaking fees to her and Bill, and financed the Clinton Foundation — the likes of Goldman Sachs — she will spend the entire campaign answering for it.
The money won’t be worth the negatives it will spawn. She is walking into a big trap and seems not to even notice.
But she probably won’t run out of money. And that’s what counts, isn’t it?
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