Mike Pence vice presidential campaign, 2016/Banking policy
This page was current as of the 2016 election.
The regulation of the banking industry became a central issue in the 2008 presidential election after financial services firm Lehman Brothers declared bankruptcy just seven weeks before election day.[1] Following "Black Monday," a day of volatile trading in global markets on August 24, 2015, the country's attention returned to the regulation of banks and other financial institutions in the 2016 presidential election.[2][3]
Given the increased opposition to establishment candidates during the 2016 election cycle, the relationship between politicians and Wall Street also came under scrutiny.[4] Hillary Clinton, for example, earned more than $2.9 million between 2013 and 2015 from speaking engagements for Wall Street banks and other financial firms. This was a point that Bernie Sanders, Clinton's Democratic primary challenger, highlighted in his criticism of her policies.[5][6][7]
See below what Mike Pence and the 2016 Republican Party Platform said about Wall Street and banking policy.
Pence on Wall Street and banking policy
- In September 2008, Mike Pence wrote a letter to his colleagues explaining why he opposed the Wall Street bailout. He wrote, "The decision to give the federal government the ability to nationalize almost every bad mortgage in America interrupts this basic truth of our free market economy. Republicans improved this bill but it remains the largest corporate bailout in American history, forever changes the relationship between government and the financial sector, and passes the cost along to the American people. I cannot support it."[8]
| The 2016 Republican Party Platform on Wall Street and banking policy | |||
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See also
Footnotes
- ↑ International Business Times, " Election 2016 And The Economy: Should Democrats Be Concerned About China's 'Black Monday' Market Meltdown?" August 26, 2015
- ↑ The New York Times, "Wall St. Policy Poses a Challenge for Presidential Candidates," August 30, 2015
- ↑ The New York Times, "A Plunge in China Rattles Markets Across the Globe," August 23, 2015
- ↑ The Christian Science Monitor, "Who is Wall Street’s favorite presidential candidate?" October 16, 2015
- ↑ The Intercept, "Hillary Clinton Made More in 12 Speeches to Big Banks Than Most of Us Earn in a Lifetime," January 8, 2016
- ↑ The Wall Street Journal, "Bernie Sanders Ad Steps Up Attack on Hillary Clinton’s Wall Street Ties," January 28, 2016
- ↑ CNN, "Sanders: Clinton is 'funded by Wall Street,'" February 3, 2016
- ↑ Human Events, "Why I Oppose The Bailout," September 28, 2008
- ↑ Republican Party, "The 2016 Republican Party Platform," accessed August 23, 2016
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
