Economics
Mike Bloomberg Surprises Wall Street With Left Turn on Policy
- Tough talk on banks, merging Fannie-Freddie were unexpected
- Proposals seem targeted at progressive attacks: Compass Point
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Democratic presidential candidate Michael Bloomberg’s new leftward-leaning financial regulation proposals are surprising analysts, who expected a more Wall Street-friendly campaign from the former New York mayor.
The plans include a 0.1% transactions tax, merging Fannie Mae and Freddie Mac, and regulating Wall Street in ways that ensure the financial system is “strong enough to weather crises without harming the broader economy or requiring taxpayer bailouts.”