The Nobel Prize winning economist and Op Ed writer Paul Krugman has in fact spoken of Hillary’s economic plan being tougher than her opponents.
Leading economist (and often liberal hero) Paul Krugman, just wrote a piece about the financial industry and it’s a good insight piece. There were some squabbles at the Democratic debate over regulating Wall Street and the banking industry, but who has the toughest/best plan? According to Krugman, that candidate is Hillary Clinton.
Senator Bernie Sanders is often seen as the one who is toughest on Wall Street, having made a career over going after them and critiquing the rich. However, prestigious economist Krugman has taken a thorough look at the financial industry as part of his work and has analyzed the plans and rhetoric from presidential candidates. So what does he say?
www.liberalamerica.org/...
Let’s get to the core of his statement.
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.
But is Mrs. Clinton’s promise to take a tough line on the financial industry credible? Or would she, once in the White House, return to the finance-friendly, deregulatory policies of the 1990s?
Well, if Wall Street’s attitude and its political giving are any indication, financiers themselves believe that any Democrat, Mrs. Clinton very much included, would be serious about policing their industry’s excesses. And that’s why they’re doing all they can to elect a Republican.
www.nytimes.com/...
So there you have it. A well respected economist agreeing with Hillary. He isn’t the only one. Elizabeth Warren, the beloved core of the progressive movement also understands there is a bigger picture at play.
Hillary Clinton, hearing criticism for her ties to the financial industry, received the critical support of Senator Elizabeth Warren on Monday for her proposal to expand the Dodd-Frank regulatory structure and urging of President Obama to veto any legislation that would weaken Wall Street regulation.
“Secretary Clinton is right to fight back against Republicans trying to sneak Wall Street giveaways into the must-pass government funding bill,” Ms. Warren, the liberal senator from Massachusetts, wrote on Facebook after Mrs. Clinton published an Op-Ed article in The New York Times with her proposals to regulate Wall Street.
www.nytimes.com/...
It is not just about the big banks. Hillary is the only candidate looking at the entire financial sector and working to make overall regulations stronger.
Let’s do this. Let us compare Hillary’s plans to what Elizabeth Warren has laid out for the next democratic candidate to do.
Specifically, Warren said the next president’s agenda should:
- Defend Dodd-Frank against attempts to weaken or compromise it.
- Scale up enforcement, investigations and convictions: "When big financial institutions are not deterred from breaking the law… then that’s what they will do."
- "Tackle the shadow-banking sector," which created "runs and panics in the short-term debt markets that spread the contagion across the financial system."
- Create a "targeted financial transactions tax."
- 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."
www.vox.com/...
From the article Critics say Hillary Clinton is pro-Wall Street. Her Wall Street reform plan says otherwise there are comparisons to each of these metrics to the plan Hillary has laid out. I highly suggest giving it a read as Hillary really does fit the entire mold of what is needed to reform Wall Street.
Clinton’s approach looks to the financial markets as a whole. Their focus on the largest banks is driven by turning up the regulations introduced in Dodd-Frank, rather than going completely outside the framework. The core of what they introduce that is new is meant to frame the problem of finance as broader than any group of large institutions.
www.vox.com/...
Hillary comes out on top once again. This is what we need in the country. A leader who understands the entire big picture of the government and financial markets. Thus far, Hillary is the only candidate who has shown us she does.
The choice is Clear! — Vote Hillary 2016
Update:
Another Nobel laureate Joseph Stiglitz on Hillary:
New York—Roosevelt Institute Chief Economist and Nobel laureate Joseph Stiglitz released the following statement following Hillary Clinton’s economic address. Stiglitz and Roosevelt staff have held multiple briefings with Clinton campaign staff over the past several months on Roosevelt’s Rewriting the Rules of the American Economy agenda.
“This speech showed a clear understanding that our economy is no longer working for most Americans, that the rules of the economy matter, and that we need to fundamentally rewrite the rules to ensure our nation and its people can live up to their full potential. Growth is not achieved by pulling a number out of thin air but by focusing on and investing in our families and communities, ensuring Americans can earn enough to afford a middle-class life, and making our financial markets work for everyday Americans rather than the short-term interests of CEOs and speculators.
Today Hillary Clinton began to offer the kind of comprehensive approach we need to tackle the enormous economic challenges we face, one that is squarely in line with what we have called for at the Roosevelt Institute.”
crooksandliars.com/...