HuffPo: Hillary Clinton Wants To Crack Down On High-Speed Wall Street Trading
Zach Carter for HuffPo: Hillary Clinton Wants To Crack Down On High-Speed Wall Street Trading
A small tax -- less than 1 percent of the transaction value -- could significantly alter the market for short-term trades. The Clinton campaign says it is trying to curb the influence of high-frequency trading on the broader markets as part of a regulatory plan to crack down on "dark pools" -- private trading forums obscured from the public.
The tax will be one part of Clinton's broader bank reform agenda, which was crafted with input from campaign CFO Gary Gensler, the campaign said. As chairman of the Commodities Futures Trading Commission, Gensler was regarded as one of the toughest Wall Street regulators in decades.
Clinton has been dogged by complaints from the progressive wing of the Democratic Party that she is too close to Wall Street, and financial reform hardliner Sen. Bernie Sanders (I-Vt.) has gained on her in the polls in recent months. She received hundreds of thousands of dollars in speaking fees from Goldman Sachs and other financial firms after she left the State Department. On the campaign trail and in a recent interview with Lena Dunham, Clinton has insisted that she will pursue aggressive bank accountability measures if she is elected president.
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