Sen. Bernie Sanders (I-Vermont) unleashed on former Secretary of State Hillary Clinton’s ties to Wall Street during Saturday night’s debate, prompting a quick counterpunch from the Democratic front-runner.
Sanders, asked what he thought of Clinton’s Wall Street reforms, simply replied: “Not good enough!”
“Let’s not be naive about it. Why over her political career, has Wall Street been a major — the major — campaign contributor to Hillary Clinton?” he continued. “Maybe they’re dumb and they don’t know what they’re going to get, but I don’t think so.”
Sanders proceeded to make the case for why big banks should be broken up and the Glass–Steagall Act, which separated investment and commercial banks, should be reinstated.
“Why do they make millions of dollars of campaign contributions? They expect to get something. Everybody knows that. Once again, I am running a campaign differently from any other candidate. We are relying on small campaign donors,” he said. “That’s who am I indebted to.”
Clinton butted in.
“Wait a minute, he has basically used his answer to impugn my integrity. Let’s be frank here,” Clinton said.
“No,” Sanders interjected.
“Wait a minute, senator,” Clinton shot back. “You know, not only do I have hundreds of thousands of donors, most of them small, and I’m very proud that for the first time, a majority of my donors are women.”
Clinton then defended her record helping Wall Street “rebuild” after the September 11, 2001, terrorist attacks.
“It’s fine for you to say what you’re going to say,” she told Sanders. “But I looked very carefully at your proposal. Reinstating Glass–Steagall is a part of what very well could help. But it is nowhere near enough. My proposal is tougher, more effective, and more comprehensive because I go after all of Wall Street, not just the big banks.”