Schwarzman Says More Wall Street Regulation Counterproductive

  • Blackstone CEO says new rules would undercut recovery
  • Clinton unveils proposal to rein in big banks, trading

Steve Schwarzman, co-founder, chairman and chief executive officer of Blackstone Group LP, listens during an interview at an Economic Club of Washington luncheon on Sept. 15, 2015.

Steve Schwarzman, the billionaire co-founder and chief executive officer of Blackstone Group LP, said calls by Hillary Clinton and the other Democratic presidential candidates for more regulation of Wall Street will do more harm than good by undercutting an already slow economic recovery.

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