|
 Clinton, in an op-ed published by the Huffington Post, was
critical of the "so-called revolving door" between government and
Wall Street firms in particular, saying it erodes public trust "if a
public servant's past and future are tied to the financial
industry."
"That's when people start worrying that the foxes are guarding the
hen house," Clinton, the front-runner in the race to win the
Democratic Party's nomination for the 2016 election, wrote. "If
you're working for the government, you're working for the people —
not for an oil company, drug company, or Wall Street bank or money
manager."
Support for the proposed Financial Services Conflict of Interest Act
had become a sort of litmus test for the Democratic Party's
progressive wing, which is seeking far more stringent oversight of
the U.S. financial services industry.
 Elizabeth Warren, the Massachusetts senator who has become a
standard-bearer for the party's progressives, called on presidential
candidates to endorse the bill last month shortly after it was
introduced.
The law would ban incoming government employees from accepting such
bonuses, sometimes known as "golden parachutes", from their former
private sector employers.
It would also require senior government regulators to recuse
themselves from any work that would particularly benefit any
employer or client they had in the two years before joining the
government.
[to top of second column] |
Bernie Sanders, the socialist Vermont senator who is Clinton's
nearest rival for the nomination, had already given the bill his
support, as had Martin O'Malley, a former Maryland governor, who has
been lagging in public polls.
Last week, groups representing Democratic progressives called for
Clinton to make her position clear.
Clinton co-wrote her Monday op-ed with Senator Tammy Baldwin of
Wisconsin, the bill's Democratic sponsor.
(Reporting by Jonathan Allen; Editing by Andrew Hay)
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