Quote (ThatAlex @ 24 May 2016 06:03)
How are these proposed reforms any better than other candidates' proposals? These proposals seem pretty vague to me. But this isn't a topic I am extremely well-versed on, so I'm not going to pretend I know all of what I'm talking about. Thanks for the links.
You don't think there is a conflict of interest if you're saying you will regulate/simplify/shrink big banks but then are taking money from them? That seems like a pretty blatant conflict of interest to me, but I could be wrong.
But the point about speculation on commodities is interesting. I have a lot to learn about this subject. PaRD teaching me new stuff almost every day.
Well, consider Bernie's plan, which is "We should totally break up the banks because then they'll be broken up!" The sum total of his plan on his own website consists of pointing out that he tried and failed to introduce legislation last year that has absolutely zero real-world plans as to what to actually do. Here's the whole bill, it's a pretty quick read:
http://www.sanders.senate.gov/download/tbtfleg?inline=fileHis plan is to have the Treasury Secretary come up with a list of banks that are "Too Big to Fail" (which would almost certainly just be a mirror of the list of 'Systematically Important Financial Insitutions' already required by Dodd-Frank) and then... well, I'll just quote the intricate plan to break up these banks:
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Notwithstanding any other provision of law, but not later than 1 year after the date of enactment of this Act, the Secretary of the Treasury shall break up entities included on the Too Big To Fail List, so that their failure would no longer cause a catastrophic effect on the United States or global economy without a taxpayer bailout.
Clinton's plan, on the other hand, would actually give the banks incentives to break up by instituting a 'risk tax' for banks that rely too heavily on short-term funding so as to take the risk off of the economy and taxpayer by having funds available in the treasury in case they fuck up again. She also has a lot of regulatory plans to give regulators more power to break up a bank, and wants to put significant regulations on 'shadow banking,' none of which appears in any of Bernie's plans at all.
I'm not mentioning Trump, for obvious reasons.