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U.S. NEWSWednesday 6 January 2016
Sanders vowing to break up banks during first year in office
Democratic presidential candidate, Sen. Bernie Sanders, I-Vt., speaks during a campaign stop in ties make her unable to would do little more than
Manchester, N.H. truly take on the financial “impose a few more fees
industry. and regulations.”
(AP Photo/Mary Schwalm) “To those on Wall Street “My opponent says that, as
who may be listening to- a senator, she told bankers
LISA LERER gance,” Democratic presi- dent, in a major policy ad- day, let me be very clear: to ‘cut it out’ and end their
Associated Press dential candidate Bernie dress on Tuesday. Greed is not good,” said destructive behavior,” he
NEW YORK (AP) — Char- Sanders pledged to break He coupled that promise Sanders, in a reference to said. “But, in my view, es-
acterizing Wall Street as up the country’s biggest fi- with a series of attacks on Oliver Stone’s 1980s film, tablishment politicians are
an industry run on “greed, nancial firms within a year, rival Hillary Clinton, arguing “Wall Street.” the ones who need to cut
fraud, dishonesty and arro- should he become presi- her personal and political “In fact, the greed of Wall it out,” he said.
Street and corporate “The reality is that Con-
America is destroying the gress doesn’t regulate Wall
very fabric of our nation, Street. Wall Street, its lob-
and — here is a New Year’s byists and their billions of
resolution that I will keep if dollars regulate Congress,”
elected president — and Sanders added.
that is if Wall Street does Clinton and her husband,
not end its greed, we will former President Bill Clin-
end it for them,” said Sand- ton, have made tens of mil-
ers, as a cheering audi- lions in speaking fees from
ence jumped to its feet. addresses to Wall Street
Sanders has made regulat- banks, insurance compa-
ing Wall Street a focus of his nies and other financial
insurgent primary bid, with firms.
calls to curb the political in- She also opposes reinstat-
fluence of “millionaires and ing the Depression-era
billionaires” at the core of Glass-Steagall Act, which
his message. effectively limited the size
But the attacks on Clin- of financial companies by
ton mark an escalation in prohibiting commercial
his offensive against the banks from engaging in
Democratic front-runner. investment banking activi-
Clinton’s policies, he said, ties. q
Business group hopes to boost momentum for trade pact
KEVIN FREKING the Trans-Pacific Partner- votes. more than five years to Pacific Partnership since
Associated Press ship agreement on Tues- John Engler, president of stitch together. Participat- agreement on the deal’s
WASHINGTON (AP) — Lead- day. the Business Roundtable, ing nations would reduce terms was announced in
ing business groups, of- A trade group represent- and a former Republican or eliminate thousands of October. Donald Trump
ten at odds with President ing manufacturers did the governor of Michigan, said tariffs that apply to foreign- said it’s a “terrible deal.”
Barack Obama, are looking same Monday. his organization is hoping made goods. The agree- Democrat Hillary Clinton
to give momentum to one Their influence could make Congress will approve the ment also rolls back regula- said “it didn’t meet my
of his priorities before he supporters in Congress pact before it heads home tory requirements, such as standards.”
leaves office: approval of more eager to take the for its August recess. the need to establish an of- That’s led to questions
a trade pact linking 12 na- agreement up in an elec- “The hope is to send the sig- fice in a particular country about whether Congress
tions along the Pacific Rim tion year. Senate Majority nal now that we’re getting or partner with a local en- would pass the trade pact,
that make up 40 percent of Leader Mitch McConnell pretty comfortable with the tity, in order to access their even though lawmakers
the world economy. recently urged Obama agreement and let’s get markets. just last year passed legis-
The Business Roundtable, to hold off on sending the ready to give it serious con- Several presidential candi- lation designed to speed
made up of chief execu- agreement to Congress sideration,” Engler told The dates in both parties as well TPP’s passage without the
tive officers from large U.S. before the elections, warn- Associated Press. as members of Congress threat of amendments or
companies, will endorse ing that it didn’t have the The trade agreement took have panned the Trans- filibuster.q
