Hillary Clinton became the latest Democratic candidate to announce a package of Wall Street reforms, joining Bernie Sanders and Martin O’Malley in railing against big banks.
“To prevent irresponsible behavior on Wall Street from ever again devastating Main Street, we need more accountability, tougher rules, and stronger enforcement. I have a plan to build on the progress we’ve made under President Obama and do just that,” Clinton said. “We can’t go back to the days when Wall Street could write its own rules.”
Clinton said her proposals would impose a risk fee on the largest financial institutions and require firms that are “too big to fail” to break apart. She defended Dodd-Frank and promised to reward whistleblowers.
The Democrats running for president have all taken on Wall Street regulations as a central issue, highlighting the 2008 financial crash. Clinton is viewed by some Democrats as too close to the financial sector, particularly Goldman Sachs, while Sanders and O’Malley, who both came out with their plans during the summer, are seen as taking a harder line.
“It’s encouraging to see Secretary Clinton agree with many of the proposals Gov. O’Malley laid out in his Wall Street reform plan months ago,” O’Malley deputy campaign manager Lis Smith said in a statement. “Secretary Clinton’s plan falls short on what should be our ultimate goal: preventing reckless Wall Street speculators from backing up their bad bets with taxpayer money.”
“The only thing Hillary Clinton is interested in reining in is Bernie Sanders’ momentum,” Republican National Committee spokesperson Michael Short said in a statement. “Voters don’t trust Hillary Clinton because they see her bashing Wall Street out one side of her mouth while she asks for their money out the other.”
