President Biden has the power to crack down on executive excess by imposing new CEO pay and buyback restrictions on federal contractors.
On the subject of Wall Street reform, the draft platform released by the Democratic Party reads much more like a Bernie Sanders stadium speech than a Hillary Clinton policy memo. “Democrats will fight against the greed and recklessness of Wall Street,” they pledge.
This tough talk is clearly intended to draw in voters who are still feeling the Bern. But it could also be a sign that Wall Street’s aversion to Donald Trump has strengthened the Democrats’ hand.
Originally published in U.S. News and World Report.
Sarah Anderson directs the Global Economy Project at the Institute for Policy Studies and is a co-editor of Inequality.org.