Here are the priorities in Bloomberg’s Wall Street plan, according to a campaign press release:
Strengthen reforms put in place following the Great Recession to regulate banks and protect consumers, including the Volcker Rule and Consumer Financial Protection Bureau. Restore funding to the Office of Financial Research that monitors bank riskiness. Enable the Department of Justice to put individuals in jail for “infractions.” Introduce a 0.1% financial transaction tax.
Bloomberg said as president he would toughen the Volcker rule, which limits banks’ proprietary trading, or trading stocks for their own gain. Merging mortgage giants Fannie Mae and Freddie Mac into a single entity, according to the proposal, would make the two institutions more efficient.
Bloomberg would “restore and strengthen” the Consumer Financial Protection Bureau to protect consumers,” after the agency has been weakened under President Donald Trump’s administration.
-------------------------------- We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb
Bazootiehead-in-training
Posts: 37922 | Location: Somewhere in the middle | Registered: 19 January 2010
Democratic presidential candidate Mike Bloomberg on Tuesday released a new $700 billion higher education plan that calls for free community college and doubling Pell Grants for low-income students.
The former New York City mayor's proposal would significantly increase federal spending on higher education and aims to target those subsidies to lower-income families. It doesn’t go as far as proposals by other Democrats to eliminate tuition at public, four year universities for large swaths of students or provide student loan forgiveness on the scale that progressives have sought.
-------------------------------- We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb
Bazootiehead-in-training
Posts: 37922 | Location: Somewhere in the middle | Registered: 19 January 2010
A spokesman for Michael Bloomberg’s campaign said Tuesday that if elected president, Bloomberg would sell his eponymous financial-data and media company, in contrast with President Donald Trump remaining the head of his real-estate and branding firm.
“Mike Bloomberg will release his tax returns. Mike Bloomberg will also sell Bloomberg LP. There will be no confusion about any of his financial holdings blurring the line between public service and personal profiteering. We will be 180 degrees away from where Donald Trump is on these issues, because Donald Trump is a walking financial conflict of interest,” Tim O’Brien said on CNN on Tuesday.
Bloomberg would put his company in a blind trust, and then a trustee would handle the sale, the campaign said.
“Mike will sell the company if elected president,” said his campaign spokeswoman, Galia Slayen.
O’Brien told the Associated Press in a separate interview that the former New York mayor wouldn’t allow a sale to a foreign buyer or private equity firm.
-------------------------------- We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb
Bazootiehead-in-training
Posts: 37922 | Location: Somewhere in the middle | Registered: 19 January 2010
