2016 Postmortem
In reply to the discussion: What ideological split? There isn't one. [View all]YouDig
(2,280 posts)Glass Steagall is probably a good idea in my opinion. But it's gotten blown out of proportion in terms of its role. I agree with you that she could do the other regulations she proposes as well as Glass-Steagall, it's not one or the other. On the other hand, her proposals for "shadow-banking" regulations have gotten more praise than Bernie's.
The transaction tax, also probably a good idea, though from what I've read Bernie's isn't the best way to implement it, and it could hurt regular investors. Hillary at one point talked about a smaller tax designed specifically to stop high-speed trading, but have less effect on regular investors. I don't know if she's still for that, but she's at least aware of the problem of high-speed trading.
But big picture here, they both want to expand on Dodd-Frank, but Bernie does want farther. Under Dodd-Frank there is already authority to break up big banks. And also, banks deemed systematically important (or whatever the term is) are subject to extra regulations. So we've come a pretty long way there already.
Another thing she wants to do is close the loophole that lets hedge fund managers pay super-low tax rates.
If she were really just trying to protect Wall Street, she would do what the GOP does, which is try to get rid of Dodd-Frank altogether.