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Rolling Stone: Hillary Clinton's Take on Banks Won't Hold Up

"The inaugural Democratic debate Tuesday night was a strange show. It felt like two different programs.

"One was a screwball comedy starring red-faced ex-Marine Jim Webb and retired Keebler elf Lincoln Chafee, whose Rhode Island roots highlighted the Farrelly brothers feel of his performance. The latter's "I voted to repeal the Glass-Steagall Act because it was my first day at school" moment was the closest thing I've seen to a politician dissolving into his component elements on live television."

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"Hillary Clinton last week released a plan that sounds very similar to these proposals. This is the "comprehensive" plan she mentioned in the debate.

"Her plan would create a "risk fee" for banks over a certain size. If banks get too big, they would be asked to get smaller. But my reading of her proposal is that it doesn't contain an automatic mechanism. Hillary's plan would merely give regulators the authority to do something about risky companies.

"Clinton did say large firms should be required to 'downsize or break apart,'" says Dennis Kelleher of the Wall Street watchdog group Better Markets. "But only if they can't prove to regulators that they can be managed effectively."

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Read the full Rolling Stone article by Matt Taibbi here

 

 

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