“Hillary Clinton has vowed to be tougher on Wall Street than any other presidential candidate, but that hasn’t stopped the financial industry from sending a flood of cash to help elect her.
“That includes segments of finance she has singled out for greater oversight in her planto rein in “shadow banking,” where financial companies act like banks without being regulated like them. Hedge funds, private equity and insurance executives, who could face greater oversight under the plan, have given a combined $24.9 million to Clinton and the super-PACs supporting her, a Bloomberg review of campaign finance records shows.”
“Depending on the details, her plan could hit them quite hard,” said Dennis Kelleher, CEO of Better Markets, which advocates for stricter financial regulations. “The real problem is that we don’t know, and we won’t know until we see the details.”
To read the full Bloomberg article by Bill Allison click here.