Martin O’Malley’s open letter to Wall Street

Martin O'Malley House Party, Concord, NH

He’s really trying to get traction, and he’s saying the right things:

“I know that many of you have tried to dismiss and undermine my calls for stronger reforms as ‘anti-capitalist.’ Let me be clear- the ongoing reckless behavior of your megabanks isn’t capitalism—it’s the antithesis of it,” O’Malley wrote. “True capitalism requires a level playing field on which everyone plays by the same set of rules. True capitalism requires competition. True capitalism means that just as businesses and banks can succeed—they can also fail.”

In his letter, O’Malley describes the “megabanks” as an “grave threat” to the US economy with executives that are “somehow classified as too big to prosecute and too big to jail.”

“Today, your—too-big-to-fail, too-big-to-manage, and too-big-to-jail—megabanks pose an enormous
risk to the financial system, the economy, and American families. They are so big and so interconnected with the entire financial system that the failure of one or more of them could cause the collapse of the entire U.S. economy,” O’Malley wrote.

According to his deputy campaign manager Lis Smith, on Thursday, along with the letter, O’Malley will release a “detailed Wall Street white paper that continues in mold of O’Malley leading with bold, progressive policy agenda.”

2 thoughts on “Martin O’Malley’s open letter to Wall Street

  1. I agree and I want to hear more. I’m ready for candidates trying to outdo each other to draw clear lines in the sand over megabanks, Politicians-for-sale, NSA, etc, etc, etc.

  2. And yet I have no confidence this guy means a word of it. At the end of the day, Sanders is the only one I trust *at all*. Even if he turns out to be not as great as I hope, I think he will try. Martin and Hillary will do much like Obama and Bill, saying whatever it takes to get elected (NAFTA, anyone) and then pretending like they never said a word of it after getting sworn in.

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