Sen. Bernie Sanders said Tuesday that Wall Street’s business model is “fraud,” the Federal Reserve has been “hijacked” by bankers and Democratic presidential frontrunner Hillary Clinton’s plan to regulate the financial industry won’t solve the problem. The Vermont independent, who is running for the Democratic presidential nomination, offered a host of financial policy proposals to…
Tag: wall street
EX-Citi CEO Says They Were Wrong to Repeal Glass-Steagall
Ex-Citigroup CEO John Reed writes in the FT that “we were wrong” about the repeal of Glass-Steagall. First “was the belief that combining all types of finance into one institution would drive costs down — and the larger the institution the more efficient it would be. We now know that there are very few cost…
Clinton calls for breaking up too-big-to-fail banks as part of Wall Street plan
Hillary Clinton unveiled a plan that aims to tackle excessive risk-taking in the financial sector and calls for breaking up too-big-to-fail banks. The proposal, laid out Thursday, would impose a risk fee on financial firms “that are too large and too risky to manage” and require them to reorganize, downsize or break apart, the Democratic…
Who Benefits from M&A Activity? Not a Tough Question
From Alan Murray’s daily CEO newsletter: In yesterday’s post, I suggested the current excess of splitting and merging was driven by investors seeking returns in a zero interest rate world. Several readers quickly pointed out it’s also being driven by banks seeking business. Fortune’s Stephen Gandel reported yesterday banks brought in $19.5 billion on U.S….
ValueEdge Advisors 