By Dan Merica
Hillary Clinton rolled out her long-awaited plan to reform Wall Street on Thursday, announcing in a Bloomberg op-ed that she wants to crack down on abuses and tax certain kinds of “high-frequency” trading.
Liberal Democrats have long waited to hear what Clinton plans to do about Wall Street, hoping that the former New York senator who has deep ties to financial institutions would crack down on institutions that have become Democratic boogeymen.
“The bottom line is that we can never allow what happened in 2008 to happen again,” Clinton wrote, referencing the market crash that led to the Great Recession. “Just as important, we have to encourage Wall Street to live up to its proper role in our economy — helping Main Street grow and prosper.”
Clinton proposes a four-pronged approach to tackling Wall Street: Increasing accountability by punishing criminal behavior, instituting a fee on excessive leverage and short-term borrowing, more oversight on hedge funds and investment banks and a tax on short-term trading.
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