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Nobody Knows Who’s Paying for the Privately Funded Democratic National Convention


Earlier this week, in my article titled, Hillary Clinton is in Deep Trouble – “Hordes of Wall Street Executives” Descend Upon Philly, I highlighted how all the Wall Street executives and lobbyists who avoided the RNC were excitedly flooding into the Democratic Convention. Here’s an excerpt:

Lobbyists are being welcomed back into the fold of the Democratic Party as the Obama era draws to a close.


Presumptive Democratic nominee Hillary Clinton has accepted more than $9 million in bundled donations from registered lobbyists, while the DNC has rolled back the lobbyist bans that Obama put into place.


“In 2008 and 2012, there was no integration with the [Obama] campaign,” said Al Mottur, a senior Democratic lobbyist at Brownstein Hyatt Farber Schreck, adding that he would have liked to have helped. “Now, the campaign is welcoming — they’re open to us. That’s why I’ve done as much work for her as I’ve done on her behalf.”


For 2016, the DNC reversed the prohibition on lobbyist cash entirely, both for the party and the convention, giving corporations and lobbyists the opportunity to participate fully. 


Clinton’s candidacy is also a draw for those on K Street, many of whom have been involved with the family for years.


“The community is supporting her, there is no question about that,”said David Castagnetti of Mehlman Castagnetti Rosen & Thomas. His firm is also kicking off the convention with a party on Monday…


Hordes of industry executives will descend on the city to celebrate Hillary Clinton’s nomination for president and renew close associations that vexed the Democratic standard-bearer throughout her primary battle with Bernie Sanders. 


Blackstone, one of the nation’s largest private equity firms, will hold an official reception in Philadelphia on Thursday featuring its president, Tony James, sometimes mentioned as a possible Treasury Secretary in a Clinton administration. 


Hedge fund managers and top Democratic donors including Avenue Capital’s Marc Lasry and Boston Provident’s Orin Kramer will also be on the scene as will Morgan Stanley executive and former top Clinton aide Tom Nides. Executives from Citigroup, JPMorganChase and other large banks will also prowl the streets and bar rooms of Philadelphia.


Republicans with ties to the financial industry will also be there, a sharp contrast to Donald Trump’s convention in Cleveland, which Wall Street largely shunned over fears of the GOP nominee’s populist agenda on trade, immigration and Wall Street reform.


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