It’s easy to strike a pose of cynicism when contemplating Hillary Clinton’s inevitable (and terribly imminent) presidential campaign. As a drearily soulless, principle-free, power-hungry veteran of DC’s game of thrones, she’s about as banal of an American politician as it gets. One of the few unique aspects to her, perhaps the only one, is how the genuinely inspiring gender milestone of her election will (following the Obama model) be exploited to obscure her primary role as guardian of the status quo.
That she’s the beneficiary of dynastic succession – who may very well be pitted against the next heir in line from the regal Bush dynasty (this one, not yet this one) – makes it all the more tempting to regard #HillaryTime with an evenly distributed mix of boredom and contempt. The tens of millions of dollars the Clintons have jointly “earned” off their political celebrity – much of it speaking to the very globalists, industry groups, hedge funds, and other Wall Street appendages who would have among the largest stake in her presidency – make the spectacle that much more depressing (the likely candidate is pictured above with Goldman Sachs CEO Lloyd Blankfein at an event in September).
But one shouldn’t be so jaded. There is genuine and intense excitement over the prospect of (another) Clinton presidency. Many significant American factions regard her elevation to the Oval Office as an opportunity for rejuvenation, as a stirring symbol of hope and change, as the vehicle for vital policy advances. Those increasingly inspired factions include:
Down on Wall Street they don’t believe (Clinton’s populist rhetoric) for a minute. While the finance industry does genuinely hate Warren, the big bankers love Clinton, and by and large they badly want her to be president. Many of the rich and powerful in the financial industry—among them, Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO James Gorman, Tom Nides, a powerful vice chairman at Morgan Stanley, and the heads of JPMorganChase and Bank of America—consider Clinton a pragmatic problem-solver not prone to populist rhetoric. To them, she’s someone who gets the idea that we all benefit if Wall Street and American business thrive. What about her forays into fiery rhetoric? They dismiss it quickly as political maneuvers. None of them think she really means her populism.
Although Hillary Clinton has made no formal announcement of her candidacy, the consensus on Wall Street is that she is running—and running hard—and that her national organization is quickly falling into place behind the scenes. That all makes her attractive. Wall Street, above all, loves a winner, especially one who is not likely to tamper too radically with its vast money pot.
According to a wide assortment of bankers and hedge-fund managers I spoke to for this article, Clinton’s rock-solid support on Wall Street is not anything that can be dislodged based on a few seemingly off-the-cuff comments in Boston calculated to protect her left flank. (For the record, she quickly walked them back, saying she had “short-handed” her comments about the failures of trickle-down economics by suggesting, absurdly, that corporations don’t create jobs.) “I think people are very excited about Hillary,” says one Wall Street investment professional with close ties to Washington. “Most people in New York on the finance side view her as being very pragmatic. I think they have confidence that she understands how things work and that she’s not a populist.”
The Israel Lobby
Should she become president, on one level, better ties with Israel are virtually guaranteed. . . . Let’s not forget that the Clintons dealt with Bibi too as prime minister. It was never easy. But clearly it was a lot more productive than what we see now. . . . To put it simply, as a more conventional politician, Hillary is good on Israel and relates to the country in a way this president doesn’t. . . . Hillary is from a different generation and functioned in a political world in which being good on Israel was both mandatory and smart.
Let’s be clear. When it comes to Israel, there is no Bill Clinton 2.0. The former president is probably unique among presidents for the depth of his feeling for Israel and his willingness to put aside his own frustrations with certain aspects of Israel’s behavior, such as settlements. But this accommodation applies to Hillary too. Both Bill and Hillary are so enamored with the idea of Israel and its unique history that they are prone to make certain allowances for the reality of Israel’s behavior, such as the continuing construction of settlements.
Interventionists (i.e., war zealots)
But Exhibit A for what Robert Kagan describes as his “mainstream” view of American force is his relationship with former Secretary of State Hillary Rodham Clinton, who remains the vessel into which many interventionists are pouring their hopes.
Mr. Kagan pointed out that he had recently attended a dinner of foreign-policy experts at which Mrs. Clinton was the guest of honor, and that he had served on her bipartisan group of foreign-policy heavy hitters at the State Department, where his wife worked as her spokeswoman.
“I feel comfortable with her on foreign policy,” Mr. Kagan said, adding that the next step after Mr. Obama’s more realist approach “could theoretically be whatever Hillary brings to the table” if elected president. “If she pursues a policy which we think she will pursue,” he added, “it’s something that might have been called neocon, but clearly her supporters are not going to call it that; they are going to call it something else.”
Old school neocons
After nearly a decade in the political wilderness, the neoconservative movement is back. . . . Even as they castigate Mr. Obama, the neocons may be preparing a more brazen feat: aligning themselves with Hillary Rodham Clinton and her nascent presidential campaign, in a bid to return to the driver’s seat of American foreign policy. . . .
Other neocons have followed [Robert] Kagan’s careful centrism and respect for Mrs. Clinton. Max Boot, a senior fellow at the Council on Foreign Relations, noted in The New Republic this year that “it is clear that in administration councils she was a principled voice for a strong stand on controversial issues, whether supporting the Afghan surge or the intervention in Libya.”
And the thing is, these neocons have a point. Mrs. Clinton voted for the Iraq war; supported sending arms to Syrian rebels; likened Russia’s president, Vladimir V. Putin, to Adolf Hitler; wholeheartedly backs Israel; and stresses the importance of promoting democracy.
It’s easy to imagine Mrs. Clinton’s making room for the neocons in her administration. No one could charge her with being weak on national security with the likes of Robert Kagan on board. . . . Far from ending, then, the neocon odyssey is about to continue. In 1972, Robert L. Bartley, the editorial page editor of The Wall Street Journal and a man who championed the early neocon stalwarts, shrewdly diagnosed the movement as representing “something of a swing group between the two major parties.” Despite the partisan battles of the early 2000s, it is remarkable how very little has changed.
So take that, cynics. There are pockets of vibrant political excitement stirring in the land over a Hillary Clinton presidency. There are posters being made, buttons being appended, checks being prepared, appointments being coveted. The joint, allied, synergistic constituencies of plutocracy and endless war have their beloved candidate. And it’s really quite difficult to argue that their excitement and affection are unwarranted.
Photo: John Moore/Getty Images
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