Hillary Clinton will not propose reinstating a bank break-up law known as the Glass-Steagall Act

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Hillary Clinton will not propose reinstating a bank break-up law known as the Glass-Steagall Act

Hillary Clinton will not propose reinstating a bank break-up law known as the Glass-Steagall Act

Robert Reich-

Hillary Clinton won’t propose reinstating a bank break-up law known as the Glass-Steagall Act – at least according to Alan Blinder, an economist who has been advising Clinton’s campaign. “You’re not going to see Glass-Steagall,” Blinder said after her economic speech Monday in which she failed to mention it. Blinder said he had spoken to Clinton directly about Glass-Steagall.

This is a big mistake.

It’s a mistake politically because people who believe Hillary Clinton is still too close to Wall Street will not be reassured by her position on Glass-Steagall. Many will recall that her husband led the way to repealing Glass Steagall in 1999 at the request of the big Wall Street banks.

[ROBERT REICH]

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