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November 3, 2015

Politico: Has Elizabeth Warren defeated Wall Street?

“Hillary Clinton recently went on Stephen Colbert’s “Late Show” and said she’s now prepared to bust up the big banks. If banks make too many risky investments, “they have to know — their shareholders have to know — they will fail.”

“But Clinton might not have to deliver that message. Neither will Bernie Sanders, who wants to go even further in reining in the banks. Nor will Republicans who are joining in the chorus.

“Because under all this heavy pressure from progressives behind Sen. Elizabeth Warren (D-Mass.) on the left and populists like Donald Trump on the right — and the weight of new regulation and activist shareholders — Big Wall Street is already shrinking on its own.”

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“The latest ABC News/Washington Post poll found that 67 percent of Americans would support a president who backs tougher regulations on big banks. The support crosses all ideological and partisan lines.

“If you look at all the polls and focus groups on it, it’s pretty clear the American people still perceive correctly the threat that Wall Street poses and the need for it to be regulated and for the government to regulate it,” said Dennis Kelleher, CEO of financial reform group Better Markets. “Both parties have to address this issue as best they can because the American people are very clear on it.”

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Read the full Politico article by Ben White here

 

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