George Pataki presidential campaign, 2016/Banking policy
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 George Pataki |
Governor of New York (1995 - 2007) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- At the third Republican presidential debate in October 2015, George Pataki said the Federal Reserve should increase interest rates. He said, "The Fed had to act. And the Fed did act appropriately in reducing interest rates. But they've reduced them now for seven straight years. That's never happened before. They've been zero for way too long. They should raise the rates. The Fed should get out of manipulating the market. And the Fed also, by the way, should reduce its balance sheet, 2.7 trillion, let some of those bonds mature and put the money back in the banking system so our economy can grow."[2] Pataki also said there was a "corrupt connection between Wall Street and Washington."[2]
- In July 2015, Pataki called the Troubled Asset Relief Program used to bail out large banks following the 2008 financial crisis "a very bad idea."[3]
- According to The New York Times, Pataki proposed a bill in the New York State Legislature in May 1999 to allow financial institutions in the state "to offer a full range of financial services including banking and insurance" and to restructure without regulation by the Federal Reserve Board or the Comptroller of the Currency.[4]
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See also
Footnotes
- ↑ The Boston Globe, "George Pataki to end presidential campaign," December 29, 2015
- ↑ 2.0 2.1 CNBC, "CNBC Full Transcript: CNBC's 'Your Money, Your Vote: The Republican Presidential Debate' (Part 1)," October 29, 2015
- ↑ National Journal, "The Psychology of the Impossible Campaign: An Investigation Featuring George Pataki," July 24, 2015
- ↑ The New York Times, "A Shifting Financial Landscape," May 14, 1999
