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Rick Perry backs Glass-Steagall solution for Wall Street 

July 30, 2015

Peter Schroeder, The Hill

Former Texas Governor Rick Perry is taking a position to Hillary Clinton’s left on financial reform, and pushing for a policy to break up big banks staunchly advocated by Sen. Elizabeth Warren (D-Mass.).

The GOP presidential candidate laid out his vision for Wall Street reform in a speech Wednesday. And among his policy proposals, Perry apparently advocated for the return of the Glass-Steagall Act, which established a firewall between traditional commercial banking and investment banking.

Perry’s stance would put him further to the left on that particular point than Clinton, and squarely in the camp of Warren and Sen. Bernie Sanders (I-Vt.).

In remarks delivered in New York, Perry did not mention Glass-Steagall by name, but floated among several policy proposals one that is practically identical.

“We could once again require banks to separate their traditional commercial lending and investment banking and related practices,” he said, according to prepared remarks.

Read more: The Hill

 
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