JackLuis
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Clinton proposes breaking up too-big banks, monitoring shadow-banking system
See Bernie and Biden forced her to take on Wall Street. However...
S. Democratic presidential hopeful Hillary Clinton on Thursday introduced a plan to curb what she called Wall Street abuses, including a “risk fee” on the largest financial institutions and breaking up banks considered “too big to fail.”
Under the proposal, Clinton would charge a yearly “risk fee” on a sliding scale on the liabilities of banks with more than $50 billion in assets along with other institutions overseen by financial regulators, her campaign said.
The proposals also called for raising the fines that regulators could impose on corporations and their executives, and imposing a new tax on high-frequency trading (HFT).
“These sound like much more meaningful reforms than some of the things she has suggested earlier,” said former Federal Deposit Insurance Corp Chair Sheila Bair, currently president of Washington College, in Chestertown, Maryland.
See Bernie and Biden forced her to take on Wall Street. However...
Unless the Democrats win a majority in the Senate and retake the House of Representatives in the 2016 elections, the chances of the proposals being enacted are low, Keefe, Bruyette & Woods said in a note to clients.