Mike Konczal’s Take on the Democratic Candidates’ Financial Reform Plans
October 8, 2015
By Mike Koczal
After Hillary Clinton released her financial reform agenda in early October, Roosevelt’s Mike Konczal compared her plan and Bernie Sanders’ plan against the “Elizabeth Warren test” for financial reform.
The Elizabeth Warren test calls for five key pieces of financial reform: defending Dodd-Frank, increasing enforcement, reining in the shadow banking industry, a financial transaction tax, and breaking up the banks.
Konczal analyzes the candidates plans:
Clinton gets points on the first four, but approaches the fifth by working through Dodd-Frank rather than against it. Bernie Sanders gets major points on the last two, but hasn’t gotten specific on tackling shadow banking and the broader financial sector.