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Elizabeth Warren Takes on Wall Street
Warren embraced the Take On Wall Street campaign’s five-point agenda: Reinstate the Glass-Steagall wall separating consumer banking from speculative trading activities and other financial businesses, closed the “carried interest” loophole that allows people like hedge fund traders to pay a lower tax rate on their earnings than workers, eliminate the tax deduction for CEO “performance” bonuses, crack down on payday lenders and create “public option” banking services through entities like the U.S. Postal Service, and a financial transactions tax that would not only raise money for needed services but would help curb high-speed speculative trading.