Matt
Tiabbi.
….The
other drama was serious and highly charged argument between two extremes on the
political campaigning spectrum, pitting the unapologetic idealist Bernie
Sanders against the master strategist Hillary Clinton. (Martin O'Malley seemed
like an irrelevant spectator to both narratives.)
One
of the most revealing exchanges in the Clinton-Sanders tilt involved the
question of Wall Street corruption. Sanders has always been a passionate
crusader against Wall Street perfidy, but Hillary's take on the subject was
fascinating.
Asked
about it Tuesday night, she gave an answer that to me sums up her candidacy and
the conundrum of the modern Democratic Party in general. She seemed to hit a
lot of correct notes, while at the same time over-thinking and over-nuancing a
question where a few simple unequivocal answers would probably have won
everyone over.
The
key exchange began with a question from CNN's Anderson Cooper:
"Just
for viewers at home who may not be reading up on this, Glass-Steagall is the
Depression-era banking law repealed in 1999 that prevented commercial banks
from engaging in investment banking and insurance activities. Secretary
Clinton, he raises a fundamental difference on this stage. Sen. Sanders wants
to break up the big Wall Street banks. You don't. You say charge the banks
more, continue to monitor them. Why is your plan better?"
Backing
up: When Bill Clinton took office, it was still illegal in the United States
for commercial banks to merge with investment banks and insurance companies.
But toward the end of Clinton's second term, he signed a bill called the
Gramm-Leach-Bliley Act that essentially created Too Big to Fail
"supermarket" banks like Citigroup.
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http://www.rollingstone.com/politics/news/hillary-clintons-take-on-banks-wont-hold-up-20151014
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