Martin O’Malley Channels Elizabeth Warren in Call for Breakup of Large U.S. Banks
In a policy proposal, the presidential candidate says five “megabanks” control too much of the economy and should be limited in size.
Democratic presidential hopeful and former Maryland Gov. Martin O'Malley speaks to the media following a campaign event at the Sanctuary Pub on June 11, 2015 in Iowa City, Iowa.
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Democratic presidential candidate Martin O’Malley is calling for breaking up the biggest U.S. banks, revamping the Federal Reserve and pursuing criminal cases against financial institutions that have broken the law.
In a policy proposal released Thursday, the former Maryland Governor said five “megabanks” control too much of the economy and should be limited in size. The anti-Wall Street rhetoric in the 10-page policy paper echoes stands taken by Massachusetts Senator Elizabeth Warren, a Democrat who has rallied voters with a push for tougher financial regulation.