Hillary doing a Facebook Q&A this afternoon.

[OKNancy]

10. 3 - Wall Street

Korinayo Thompson Hello Hillary! You discussed accountability on Wall Street in last week's speech. It seems like we're constantly seeing stories in the news about misconduct on Wall Street, but no one is ever held accountable. What would you do to change it?
22 · Like · Reply · 1 hr · Edited

Hillary Clinton A good - and timely - question. Tomorrow is the 5th anniversary of Dodd-Frank - the law passed to deal with the problems on Wall Street that led to the financial crisis. It's been under constant attack from Republicans in Congress ever since. As president, I'll defend Dodd-Frank - and I'll go beyond. You're right - we have work to do to enhance accountability. We've all heard the shocking stories of misconduct by individuals and institutions in the financial industry. And even though some institutions have paid fines and even admitted guilt, too often it seems like the people responsible get off with limited consequences (or none at all). Even when they’ve already pocketed the gains. That's wrong and it has to change. Last week, I pledged to prosecute individuals as well as firms when they commit fraud or other criminal wrongdoing - because no one is "too big to jail."

I’ll be laying out my Wall Street agenda in more detail soon. But here are three more examples of the kinds of things we can do: 1 - Appoint and empower tough, independent-minded regulators and give them the resources they need to do their jobs. 2 - Make sure that good people have real incentives to come forward and report illegal activity by raising the whistleblower caps so they're actually effective. 3 - Make sure that when corporations pay fines to the government for wrongdoing, those fines cut into the bonuses of the executives who should have been accountable or should have caught the problem. Give people a reason to improve the culture of their firms. You'll hear more about these proposals in the next few weeks so stay tuned! -H