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(5,252 posts)
23. Guns Shmuns. THIS is a policy issue I care about. BainsBane!!!!
Sat Oct 17, 2015, 03:31 PM
Oct 2015

Thanks for posting this

Critics say Hillary Clinton is pro-Wall Street. Her Wall Street reform plan says otherwise.

In April, amid growing speculation that she would run for president, Sen. Elizabeth Warren gave a pivotal speech titled "The Unfinished Business of Financial Reform." In it, Warren laid out what the next Democratic president could and must do to complete the task of post-crisis financial reform.

Specifically, Warren said the next president’s agenda should:

1. Defend Dodd-Frank against attempts to weaken or compromise it.
2. Scale up enforcement, investigations and convictions: "When big financial institutions are not deterred from breaking the law… then that’s what they will do."
3. "Tackle the shadow-banking sector," which created "runs and panics in the short-term debt markets that spread the contagion across the financial system."
4. Create a "targeted financial transactions tax."
5. Break up the biggest banks. First "cap the size of the biggest financial institutions," then create a new Glass-Steagall Act "that rebuilds the wall between commercial banking and investment banking."
Warren didn’t wind up running for president. But her five points are a good rubric for evaluating Hillary Clinton’s newly released plan to tame Wall Street. Clinton’s agenda is a very detailed and comprehensive dive into financial reform. It is broad, covering parts of the financial markets that aren’t often discussed. If anything, it goes into such footnoted specifics that it can be overly wonky. But it fits into the Warren framework well enough to compare and contrast the two approaches.

Using the Warren criteria, Clinton gets points on the first four, but approaches the fifth by working through Dodd-Frank rather than against it. Bernie Sanders gets major points on the last two, but hasn’t gotten specific on tackling shadow banking and the broader financial sector. Rather than stronger or weaker, we’re left with two different ways of prioritizing financial reform, with Sanders focusing on eliminating the threat of the largest banks and Clinton looking to the financial markets as a whole.

More at link

With a GOP congress that is owned by the corporations, bumprstickr Oct 2015 #1
Well Krugman is obviously in the tank for upaloopa Oct 2015 #2
Krugman has an excellent reputation, Upaloopa. If he were "in the tank" Hortensis Oct 2015 #5
I guess I should have added the sarcasm smilie upaloopa Oct 2015 #6
Sorry! But, yes, I was forced to find out where that sarcasm smilie Hortensis Oct 2015 #7
Thank you Paul Krugman Agnosticsherbet Oct 2015 #3
What an excellent big-picture view of this important topic. Sweet and simple. Hortensis Oct 2015 #4
What a shame. one of the few liberal media members joins the campaign of Doctor_J Oct 2015 #8
He hasn't joined the campaign BainsBane Oct 2015 #10
Hillary is claiming the schemes are the problem. Bernie is saying the BANKS themselves are. reformist2 Oct 2015 #9
The banks are too big for my liking as well BainsBane Oct 2015 #11
Message auto-removed Name removed Oct 2015 #12
Except that he does. Fawke Em Oct 2015 #13
Most Important part of this column is the last paragraph That Guy 888 Oct 2015 #14
Great. And that is what is important BainsBane Oct 2015 #15
"For what itís worth, Mrs. Clinton had the better case" Thanks BB Cha Oct 2015 #16
and the crucial point that Wall Street money is going to the GOP BainsBane Oct 2015 #17
If you don't believe you can get legislation through and you are picking an executive position anywa TheKentuckian Oct 2015 #18
Krugman isn't the one lying to himself. BainsBane Oct 2015 #19
Some will embrace whatever construct you manufacture as far as I've been able to tell over the years TheKentuckian Oct 2015 #20
That poster responded with "turd way" and complained about your "construct" LOL! stevenleser Oct 2015 #21
Get back to me when the indictments come in for the banksters. Tierra_y_Libertad Oct 2015 #22
Guns Shmuns. THIS is a policy issue I care about. BainsBane!!!! WhaTHellsgoingonhere Oct 2015 #23
Latest Discussions»Retired Forums»2016 Postmortem»Paul Krugman on Wall Stre...»Reply #23