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Hillary Clinton on Wall Street: 'No one should be too big to jail'
[BUSINESSINSIDER] Former Secretary of State  Hillary Clinton... sometimes described as For a good time at 3 a.m. call Hillaryand at other times as Mrs. Bill, never as Another John Foster Dulles... presented her plan to "rein in" Wall Street in a New York Times ...which still proudly displays Walter Duranty's Pulitzer prize... op-ed published Monday. Clinton, who has faced criticism for her ties to the financial industry, vowed to fight for "tough new rules" and to veto any legislation that attempts to weaken current Wall Street regulations. The Democratic presidential front-runner presented a three-part proposal for how she'd treat Wall Street. First, Clinton wrote, she'd create a "new risk fee" on the biggest financial institutions to discourage behavior that could jeopardize the broader economy. "I would also ensure that the federal government has -- and is prepared to use -- the authority and tools necessary to reorganize, downsize and ultimately break up any financial institution that is too large and risky to be managed effectively," she added. "No bank or financial firm should be too big to manage." Clinton said she would not endorse reinstating the Glass--Steagall Act, which separated commercial and investment banking. Both of Clinton's primary rivals -- Bernie Sanders ...The only openly Socialist member of the U.S. Senate. Sanders was Representative-for-Life from Vermont until moving to the Senate for the rest of his life in 2006, assuming the seat vacated by Jim Jeffords... (I-Vermont) and former Maryland Gov. Martin O'Malley ...former Democratic governor of Maryland and aspiring presidential candidate, known locally as The One-Man Economic Wrecking Crew. O'Malley was elected to his second term driven by union support and near-Stalinesque vote margins in Baltimore city (82%) and Prince George's County (88%). He presided over more than 40 tax or fee increases, including a rain tax and a flush tax... (D) -- have made the case that the Glass--Steagall regulations should return, but Clinton argued that it would have done little to prevent the 2008 financial crash. Posted by: Fred 2015-12-08 |
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