For Sen. Elizabeth Warren (D-Mass.), the Dodd-Frank financial reform law was an important first step to taming financial markets, and yesterday she laid out a series of bold next steps for financial reform that could provide a road map for the Democratic Party in 2016, the National Journal reported today. Warren said yesterday that opponents of financial regulation often pit the argument as between being pro-market and supporting deregulation versus being anti-market and supporting more regulation. "The so-called choice gets it wrong. Rules are not the enemy of markets," Warren said. "Without basic government regulation, financial markets don't work. People get ripped off, risk-taking explodes and the markets blow up." She proposed ending “too big to fail” through two methods: capping the size of largest financial institutions, and creating a modern version of Glass-Steagall to separate commercial and investment banking. She also proposed limiting emergency lending to troubled institutions by the Federal Reserve. Read more.
Hear more of Sen. Warren’s thoughts on regulation, economy and 2016 elections tonight as she provides the opening remarks at the opening reception of ABI’s 33rd Annual Spring Meeting. Still time to register!
