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August 8, 2016

Trump’s Economic Vision Is a Nightmare for Main Street

FOR IMMEDIATE RELEASE
Monday, August 8, 2016
Contact: Nick Jacobs, 202-618-6430 or njacobs@bettermarkets.com

Washington, D.C. – Better Markets’ CEO and President, Dennis Kelleher, issued this statement following Donald Trump’s economic speech in Detroit, Michigan today:

“Nothing since The Great Depression of the 1930s has destroyed more jobs and growth than the economic devastation caused by Wall Street’s too-big-to-fail financial firms crashing the financial system in 2008, which caused the worst economy since The Great Depression.  Yet, Mr. Trump, who once bragged about trying to profit on the crash and who is advised by a Wall Street financier who personally pocketed $15 billion by betting on it, failed to mention this historic economic calamity, which is going to cost the U.S. more than $20 trillion.

“Most of the poor economic conditions Mr. Trump bemoans and claims he’ll improve are the direct result of the economic catastrophe caused by that financial crash, which threw tens of millions of Americans out of their jobs and homes while destroying their wealth and robbing them of their economic security.  Mr. Trump blaming President Obama and Secretary Clinton for Wall Street’s crash of the economy may be good politics, but it is bad economics and even worse policy.  It is long past time that Mr. Trump provides the American people with a specific, concrete and comprehensive plan on exactly how he will rein in Wall Street, which is essential to protect and promote American jobs and growth.”

 

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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