Clinton ramps up efforts to undercut Sanders with middle-class voters

22 Nov 2015 | Author: | No comments yet »

Clinton says she would break up “big banks” if needed.

The Democratic primary front-runner told Democrats gathered at a rally in North Charleston that she has the “toughest” proposals for dealing with Wall Street.NORTH CHARLESTON, S.C. (AP) — Hillary Rodham Clinton said in South Carolina on Saturday she is willing to split apart big financial institutions should the need arise. She says would “break up the big banks” if necessary and hold top financial executives accountable. “I go after not just the banks,” Clinton told the crowd, pledging a tough approach to regulating the industry despite receiving tens of millions in speaking fees, donations to the family foundation and campaign cash from Wall Street in her career. “I go after the hedge funds, big insurance companies, shadow banking.” The issue of Clinton’s long-running ties to Wall Street is getting a fresh look after last weekend’s Democratic presidential debate.

President Richard Gulla says the chapter is backing Sanders because of his support for maintaining retirement benefits, lowering college costs, better wages for workers and his willingness to take on Wall Street. But Clinton and her advisers argue that Glass-Steagall would not have prevented the failure of large financial institutions, such as investment bank Lehman Brothers and insurer AIG, during the Great Recession. The parent Service Employees International Union, which represents 2 million health care workers, recently endorsed Clinton — delivering a blow to Sanders.

The local chapter will spend most of its efforts communicating the endorsement to members and encouraging them to volunteer or help with Sanders’ campaign here. Barney Frank – a driving force behind the 2010 financial overhaul law that bears his name – said it was wrong to suggest that lawmakers who pushed for the changes were influenced by campaign donations from the financial services industry.

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