Hillary: Break up banks
Democratic presidential candidate Hillary Clinton proposed on Thursday breaking up toobigtofail banks and more oversight of the shadowbanking system as she continued to roll out a sweeping plan to rein in what she calls Wall Street “abuses.”
In a nod to Democratic Party liberals who have been urging Clinton to take an aggressive posture toward Wall Street, her campaign said she would push to enhance provisions in the 2010 Dodd-Frank Act to give regulators the “explicit statutory authorization” to break up too big, too risky banks.
Clinton would also pursue additional oversight of the “shadowbanking” sector by imposing additional margin and collateral requirements on risky shortterm borrowing, reviewing recent regulatory changes to the money market fund industry for possible holes, creating new reporting requirements for hedge funds and private equity firms, and strengthening the authority of the Financial Stability Oversight Council.