Democratic presidential candidate Hillary Clinton would not bail out big banks to save them from collapse in the event of another financial crisis, she said on Tuesday.
Clinton says she would not bail out troubled banks
"We now have stress tests and I'm going to impose a risk fee on the big banks if they engage in risky behavior," she said.
Clinton says she would not bail out troubled banks
During a late night television appearance with comedian Stephen Colbert, Clinton said her priorities were focused on raising the minimum wage and bolstering the middle class.
"If you're president and the banks are failing, do we let them fail?" asked Colbert.
"Yes, yes, yes, yes... " Clinton said.
ADVERTISEMENT
She added that she would not hesitate to break apart banks that were "too big to fail."
During the 2008 recession, the U.S. government poured cash into U.S banks to keep them afloat after years of risky loans. Under the 2010 Dodd-Frank Act, regulators were given the power to carve up the banks if they deem them "not credible."
Earlier this month, Clinton announced a plan to curb what she has called the abuses of Wall Street, proposing everything from raising the fines that can be levied by regulators to requiring executives to bear some of those costs.
The plan includes strengthening the "Volcker rule" in the Dodd-Frank Act, which prohibits banks from certain kinds of trading on their own account, and imposing a new tax on high-frequency trading.
"We need to get back to putting the middle class at the center of our politics," Clinton told Colbert.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Nigeria's Drugstoc wins Global Visa Everywhere Initiative 2023
Plateau Gov lauds judiciary over tribunal victory
Lagos govt postpones introduction of HPV Vaccine
Military neutralises 52 terrorists, arrests 60 in one week
Repentant Boko Haram terrorist arrested for beating ex-wife to death
Gov Adeleke seeks TETFund's support on infrastructure in Osun
Sanwo-Olu considers reintroducing monthly environmental sanitation in Lagos
Constitutional role for traditional rulers, a necessity — AGF Fagbemi
Amosun's loyalists reconcile with Gov Abiodun, return to APC in Ogun
Pulse Sports
Anthony Joshua and Burna Boy: Nigerian-born boxer and African giant team up for Boss at Milan Fashion Week
How Nigerians can vote for Osimhen to win FIFA Best Player Award ahead of Messi
I want to 'teach' after football - Lionel Messi opens up on retirement plan
It was a money issue — Jay Jay Okocha on why he snubbed Europe's big clubs
North London Derby: Postecoglou threatens to 'scare the life out' of Arsenal
Super Falcons' Michelle Alozie drops football hot take
ADVERTISEMENT
