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July 13, 2015

Better Markets Statement Following Secretary Clinton’s Economic Speech: Where’s the Detailed Plan to Reform Wall Street & Prevent Crashes?

FOR IMMEDIATE RELEASE
Monday, July 13, 2015
Contact: Jeff Gohringer, 202-618-6430 or jgohringer@bettermarkets.com

Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued this statement following Secretary Hillary Clinton’s economic policy speech earlier today:

“Nothing has done more damage in generations to hardworking middle class families, our economy and our government finances than the 2008 financial crash and the tens of trillions of dollars in economic wreckage it caused all across our country. Digging out of that mess and making sure it never happens again is Job One for the next President and that can’t happen unless the causes of the last crash and crisis are directly acknowledged, confronted and addressed.

Secretary Clinton’s economic speech today was a good start, but after all her listening, planning and thinking, we expected more. While she talked in generalities that few could disagree with about the need to regulate Wall Street and prosecute individuals for their wrongdoing, voters deserve a specific, detailed and comprehensive plan for Wall Street reform that they can hold her accountable for if she’s elected President. As important, she must also directly address the crash-causing de-regulation ‘markets-know-best’ mania that captured the administrations of Presidents Clinton and Bush, and many of her closest economic and financial advisers for the last two decades.

Former Maryland Governor Martin O’Malley has already led the way here. He released a specific, in-depth plan, and all candidates on both side of the aisle should do the same. Voters of both parties support Wall Street reform and most of the candidates say they do too, but voters deserve to see concrete plans from all candidates specifying what they will in fact do to stand up to Wall Street, defend Main Street and prevent another devastating financial crash.”

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Better Markets is an independent, nonprofit, nonpartisan organization that promotes the public interest in financial reform in the domestic and global capital and commodity markets. Better Markets advocates for transparency, oversight and accountability with the goal of a stronger, safer financial system that is less prone to crisis and failure thereby eliminating or minimizing the need for more taxpayer funded bailouts. To learn more, visit www.bettermarkets.com.

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