U.S. Democratic presidential candidate Michael Bloomberg on Tuesday outlined a s...
NEW YORK - U.S. Democratic presidential candidate Michael Bloomberg on Tuesday outlined a sweeping financial services policy proposal to rein in Wall Street trading, boost consumer protections, increase Americans’ access to banking services and crack down on financial crime.
Trying to make a virtue of his Wall Street heritage, Bloomberg’s campaign argued on Tuesday that “as the founder of a successful global financial technology company, he understands the system well and is uniquely qualified to make it work better for all Americans.” Bloomberg also waded into the long-running debate on the future of housing finance giants Fannie Mae and Freddie Mac, which were bailed out during the financial crisis. He proposed to merge them to ensure taxpayers are fully compensated for the risks of guaranteeing the firms’ securities.
“Our sense is that these proposals are primarily intended to blunt progressive attacks, especially with Bloomberg joining the debate stage for the first time on Wednesday evening,” Isaac Boltansky, director of policy research at Washington-based Compass Point Research & Trading, said in a note. His newest proposal would also address the student loan crisis by automatically enrolling undergraduate students in income-based repayment plans, installing caps on debt payments and making it easier to discharge student debt via bankruptcy. It would curb debt collection agencies and bank overdraft fees.
Under Bloomberg’s plan, the tax would be phased in gradually, starting at 0.02%, to “minimize any unintended consequences.”
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. Democratic presidential hopeful Bloomberg unveils plan to rein in Wall StreetU.S. Democratic presidential candidate Michael Bloomberg on Tuesday outlined a s...
Leer más »
Mike Bloomberg's new plan to crack down on Wall Street echoes those of Bernie Sanders and AOC | Markets InsiderBloomberg rolled out a plan to crack down on Wall Street that mirrors proposals from Sanders and AOC, notably the inclusion of a financial trans...
Leer más »
Michael Bloomberg qualifies for Democratic debate, showdown with candidates loomsFormer New York City Mayor Michael Bloomberg has qualified for Wednesday’s Democratic presidential debate after meeting the Democratic Party’s latest qualification needs.
Leer más »
Bloomberg makes debate stage, facing Dem rivals for 1st timeBillionaire Mike Bloomberg has qualified for the next Democratic presidential debate
Leer más »