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Warren on the Warpath: Slams SEC, Pitches Financial Reforms

Joe Mont | April 15, 2015

If she had not already emphatically dismissed the idea of running for president, Sen. Elizabeth Warren (D-Mass.) delivered what would have been a headline-grabbing stump speech on Wednesday.

Speaking at the at Bard College’s Levy Economics Institute, Warren presented her view of what is needed for continuing financial reforms beyond the Dodd-Frank Act. Among her ideas, many of which have been pitched in the past by others: a financial transaction tax to restrain high-frequency trading; restoring the former Glass-Steagall Act’s mandated division between investment and commercial banking; reducing the size and footprint of “too big to fail” banks; and tax changes that would discourage banks from reckless investments and excessive leverage.

The Federal Reserve, she said, needs a rule change that requires a vote by its Board of Governors on all major...

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