Friday, 22 July 2016

The GOP Platform Calls for Breaking Up Big Banks. Seriously!

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Has the Republican Party turned on Wall Street?
Jordan Weissmann Jordan Weissmann
Jordan Weissmann is Slate’s senior business and economics correspondent.
In a rather surprising development Monday morning, Donald Trump's campaign manager, Paul Manafort, told a group of reporters that the official GOP platform would include a plank calling for the breakup of large U.S. financial institutions. "There has been some added components to [the platform] that reflect the issues that Mr. Trump has raised during the course of the campaign," he said, according to the American Banker. "We also call for reintroduction of the platform of Glass-Steagall so that would create barriers between what the big banks can do and avoid some of the crisis that led to 2008.”