U.S. Democratic presidential candidate Hillary Clinton has revealed her plan to deal with Wall Street “abuses.”
“I’m going to be proposing in the next week what I think will be the best way to go after Wall Street abuses and rein in the too-big-to-fail banks and other institutions,” Clinton during a campaign stop in Iowa.
Clinton said her plan will take aim at banks and any kind of financial institution that causes disruption in the marketplace.
“What I’m proposing is that we go after the risk,” Clinton said. “If they are so big that they are causing disruptions in the marketplace, that’s a risk. So I have what I consider to be a more comprehensive approach toward what we need to do to rein in the big institutions, including the banks.”
She also hinted that her plan would take direct aim at individuals who should be held accountable for their part in financial crimes. Clinton hinted that she will attempt to bring back Depression-era laws that separated commercial banks from riskier investment arms. That law was repealed under President HBill Clinton’s administration.
“If you only reinstate Glass-Steagall, you don’t go after all these other institutions, in what is called the shadow banking systems, hedge funds and other big financial entities that have too much power in our economy,” Clinton said.
“We also have to do more to hold individuals accountable for their bad behavior.” She admits that people “should have gone to jail” after the 2008 financial crisis.
Clinton’s campaign has not said when she will reveal her economic consequences plan this week.