They Don't Pay for Nothing

Newly released State Department emails help reveal how a major Clinton Foundation donor was placed on a sensitive government intelligence advisory board even though he had no obvious experience in the field, a decision that appeared to baffle the department’s professional staff.

  ABC

Because the department's professional staff doesn't know that big donors are among the first to receive political appointments? Are these professionals out of high school yet?

The emails further reveal how, after inquiries from ABC News, the Clinton staff sought to “protect the name” of the Secretary, “stall” the ABC News reporter and ultimately accept the resignation of the donor just two days later.

[...]

[Rajiv K.] Fernando's expertise appeared to be in the arena of high-frequency trading -- a form of computer-generated stock trading. At the time of his appointment, he headed a firm, Chopper Trading, that was a leader in that field.

[...]

He was an early supporter of Hillary Clinton's 2008 bid for president, giving maximum contributions to her campaign, and to HillPAC, in 2007 and 2008. He also served as a fundraising bundler for Clinton, gathering more than $100,000 from others for her White House bid. [...] Prior to his State Department appointment, Fernando had given between $100,000 and $250,000 to the William J. Clinton Foundation.

So, after ABC's inquiry, “Mr. Fernando chose to resign from the Board [...] citing additional time needed to devote to his business.”

Fernando is now a board member of a private group called the American Security Project, which describes itself as “a nonpartisan organization created to educate the American public and the world about the changing nature of national security in the 21st Century.” He also identifies himself online as a member of the Chicago Council on Global Affairs and says he's involved with a Washington think tank.

And he continued to donate to Democrats, and to Clinton. He emerged as one of the first “bundlers” to raise money for Clinton’s 2016 bid. And in July 2015, he hosted a fundraiser for Clinton at his Chicago home. Fernando has also continued to donate to the Clinton Foundation. He now is listed on the charity’s website as having given between $1 million and $5 million.

How very non-partisan of him.

About six months after Fernando resigned from the State Department advisory board, he was invited to attend a White House State Dinner, honoring the British Prime Minister. And this summer Fernando will serve as a super delegate at the Democratic National Convention. According to Chicago media reports, he has committed to supporting Clinton.

No!

For the lowdown on high-frequency trading, see this Bloomberg article:



And for a fascinating look at HFT's secretive beginnings and the guys who busted the story, check out Flash Boys by Michael Lewis.

....but hey, do what you want...you will anyway.