Warning Wall Street, Hillary Clinton says she would “break up the big banks” if necessary.

[riversedge]

Onward to Super Tuesday. Yet another Sanders supporters talking point gone .


Hillary Clinton vows she’s willing to break up big banks

http://www.dispatch.com/content/stories/national_world/2015/11/21/hillary-clinton-vows-shes-willing-to-break-up-big-banks.html

Warning Wall Street, Hillary Clinton says she would “break up the big banks” if necessary.

NORTH CHARLESTON, S.C. — Hillary Clinton said in South Carolina on Saturday that she is willing to split apart big financial institutions should the need arise.

The Democratic primary front-runner told Democrats at a rally in North Charleston that she has the “toughest” proposals for dealing with Wall Street. She says she would “break up the big banks” if necessary and hold financial executives accountable.

“I go after not just the banks,” Clinton told the crowd. “I go after the hedge funds, big insurance companies, shadow banking.”

She pledged a tough approach to regulating the banking industry despite receiving tens of millions in speaking fees, donations to her family’s foundation and campaign cash from Wall Street in her career. The issue of Clinton’s long-running ties to Wall Street is getting a fresh look after last weekend’s Democratic presidential debate. Both of her rivals support resurrecting the law known as Glass-Steagall, which separated commercial and investment banks.

But Clinton and her advisers argue that Glass-Steagall would not have prevented the failure of large financial institutions, such as investment bank Lehman Brothers, during the Great Recession...............




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[Cha]

1. Thank you!

[yallerdawg]

4. Hey, thanks for bringing your word-parsing innuendo...

to the "Hillary Clinton Group."

You remind us of the reason we pay no attention to Senator Sanders (I-VT) supporters - they bring nothing to the conversation.

Buh bye.

[Rose Siding]

5. Guess she coulda pandered to the fringe with an unworkable 4 pg bill

"The bill doesn't actually have a plan," says Michael Greenberger, a former financial regulator at the Commodity Futures Trading Commission and a law professor at the University of Maryland. "It defers to financial regulators to develop the plan. So really, there is no plan."

Liberal financial reform warriors certainly appreciate Sanders' spirit and tend to agree with the sentiment of the bill. But they can't really explain whether or how it would work. "It's hard to think through what the consequences of it are," says Mike Konczal, a fellow at the progressive Roosevelt Institute.

The bill vaguely directs one branch of the executive branch's regulators to identify which banks are too big, and then gives the treasury secretary a year to figure out the best way to disassemble each institution—without any sort of guidance on how the treasury secretary should go about divvying up these companies into smaller chunks.

"How do you break them up? That is a question that deserves careful attention," says Bart Naylor, a financial policy advocate at the consumer group Public Citizen, which has endorsed Sanders' bill. "If you let the judgment of human beings be the entire determinant, it is subject too much to politics. If you let a treasury secretary by himself [decide], that won't be good enough. There need to be more clear guardrails to what the size would be."

Naylor adds, "When you are leaving it to judgment, you are leaving it to politicking. And while I don't think judgment should be abolished, I think that clear lines are preferable."

http://www.motherjones.com/politics/2015/09/bernie-sanders-break-banks-too-big-fail

[dpatbrown]

3. Glass-Steagall must return!

[Rose Siding]

6. Sure, if you don't actually have a handle on what solves the problem

That's according to Noble prize winning economist Paul Krugman.

For what it’s worth, Mrs. Clinton had the better case. Mr. Sanders has been focused on restoring Glass-Steagall, the rule that separated deposit-taking banks from riskier wheeling and dealing. And repealing Glass-Steagall was indeed a mistake. But it’s not what caused the financial crisis, which arose instead from “shadow banks” like Lehman Brothers, which don’t take deposits but can nonetheless wreak havoc when they fail. Mrs. Clinton has laid out a plan to rein in shadow banks; so far, Mr. Sanders hasn’t.

http://www.nytimes.com/2015/10/16/opinion/democrats-republicans-and-wall-street-tycoons.html?_r=1

You should find somewhere else to extoll Sanders' half-measures. This is the Hillary Group.

[dpatbrown]

30. Really?

I must be missing something, but why is it a "Hillary group"? Secondly,"extolling Sanders' half measures"? Really? No, Warren and Reich have more credibility with me. I have no idea what Sanders is saying. Don't be so presumptuous. In addition, the fact that Wall Street spent so many years (65 to be exact)) to repeal, costing them tons of money, was a telltale sign for me.

New York Times, really?

[mcar]

34. Nobel Prize winning economist Paul Krugman

Really.

Bye.

[Thinkingabout]

24. Dodd Frank bill is in place, it needs to be enhanced, the Glass Stegall bill would not have

prevented the financial crisis. In fact the Commodities Futures Modernization Act of 2000 in which Sanders voted for was part of the cause of the financial crisis. Enhance the current bill.

[dpatbrown]

29. According to many,

Warren and Reich included, the repeal of the act had a lot to do with the financial mess.

[Thinkingabout]

31. The Commodities Futures Modernization Act had a lot to do with the finanical crisis, Glass Stegall

Would not have the crisis. Dodd Frank is written if a bank fails it will be broken up. Enhancing a bill already enacted would better serve us, Glass Stegall would not break up the banks. BTW, Krugman is a financial person, he say Dodd Frank.

[ybbor]

7. "Yet another Sanders supporters talking point gone."

Looks to me like another Sanders position taken as her own after checking the polls. I feel like she should be HSC, Hillary Sanders Clinton.

[Chef Eric]

9. Yup. Gee, I wonder which candidate I should trust more?!

Robert Plant: "I come from the land of the ice and snow..."
David Coverdale: "Me too!"

[yallerdawg]

13. Annoying BS snark.

This is the "Hillary Clinton Group."

This is a group, not a forum. Groups often serve as safe havens for members who share similar interests and viewpoints. Individuals who post messages contrary to a particular group's stated purpose can be excluded from posting in that group.

I stay out of the BS cave. Can't you do the same?

[Rose Siding]

20. Don't get angry. A failing candidate challenges the self control of some.

BSers will go through many stages when facing the revelation that their candidate's policies are unworkable. Lashing out is one of them.

[yallerdawg]

27. I only get angry when they bring nothing...

but personal attacks, innuendo, rightwing propaganda, and Hillary Hate, which is a bar to any argument or constructive engagement.

You patiently and informatively presented arguments supporting Hillary's position, and all we got is 'the bash.'

They don't care about why the 1933 Glass-Steagall banking provisions were ended, why the Great Recession happened unrelated to banking regulation from 1933, how Dodd-Frank and the Volcker Rule are working as they are implemented into a world financial system, and ongoing evaluation of the consequences, intended and not.

Hillary is talking about this!

Conversation ends with "Hillary bad"!

What Senator Sanders (I-VT) said:

"Yes, we do agree on a number of issues, and by the way, on her worst day, Hillary Clinton will be an infinitely better candidate and President than the Republican candidate on his best day."

[Chef Eric]

23. Yup. Will do. nt

[riversedge]

14. Please go play in your own yard. Thanks.

[yallerdawg]

11. Yet another Sanders' supporter talking point.

Is it just you all can't accept that a woman could have an opinion? It has to be copied from a man?

Then throw in the three-decade old rightwing meme about polls.

This is the "Hillary Clinton Group" - your rightwing trope does not work here! Wrong audience!

Buh bye!

[riversedge]

15. Is there not enough space in your own yard to poop on??

[riversedge]

17. Newsflash--this is the Hillary Group

Autumn Colors (1,684 posts)
16. Too many Hillary fans pooping there lately (nt)

[ybbor]

21. Sorry, didn't realize it was Hillary group

I'll leave now. It's not very nice here.

[yallerdawg]

22. Oh, but you brought the nice...

Don't leave 'the bubble'!

You know reality sucks!

[Thinkingabout]

25. No, in fact Sanders has not said to enhance the Dodd Frank bill, he wants to restore Glass Stegall

of which Clinton is not for doing, as she has explained the Dodd Frank will break up the banks if they should fail. He needs to read the Dodd Frank bill again.

[lastlib]

8. Hey, Hill: It's NECESSARY!!!!

Get it done!

2008--Exhibit A, end of discussion. .

[Iliyah]

26. K & R

Geez, again with the BS supporters invading a safe haven, enough already!

[Rose Siding]

32. flailing, baiting and pretending they don't understand the board rules

Their attitudes will make it harder to be sympathetic when BS drops out.

[snort]

28. Next: Black rim glasses.

[Rose Siding]

33. This is the Hillary Group

She wears them better anyway