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October 9, 2015

Hillary's Wall Street crackdown: Less than meets the eye

“Don’t be fooled: Hillary Clinton isn’t about to become the next Elizabeth Warren.

“When it comes to policing Wall Street, Clinton appears to be saying just enough to avoid being trashed by allies of the liberal Massachusetts senator who rallies voters with her attacks on banks.

“Clinton’s presidential campaign on Thursday released details of a plan that sounded in some ways like classic Warren, including a call for a tax on high-speed traders and punishment for executives who continue to get off scot-free for wrongdoing while their shareholders suffer.

“Some of the things that are being said are very good and important steps in the right direction. Other parts of it we have concerns about,” said Dennis Kelleher, president of financial reform advocacy group Better Markets. “The concerns are what appears to be an incredible over-reliance on regulators” and “the lack of a structural firewall to protect the American people.”

“Clinton did say large firms should be required to “downsize or break apart” — but only if they can’t prove to regulators that they can be managed effectively. She also proposed a risk fee on the biggest banks.”

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Read the full Politico article by Zachary Warmbrodt here

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