Elizabeth Warren writes:

Last month, I announced my economic patriotism agenda — a commitment to fundamentally change the government’s approach to the economy so we put American workers and middle-class prosperity ahead of multinational profits and Wall Street bonuses. I’ve already released my plan applying economic patriotism to our manufacturing policy. This is my plan for how economic patriotism can rein in Wall Street.

For decades, Washington has lived by a simple rule: If it’s good for Wall Street, it’s good for the economy. Rich Wall Street donors have pumped millions of dollars into the political system to enforce this rule. And the revolving door between Wall Street and the federal government ensures that Washington follows the rule on decisions big and small.

Washington has showered big banks with favors — no-strings-attached bailouts, massive subsidies, sweeping deregulation, and special tax breaks. In the Trump era alone, regulators have rolled back the rules for most big banks, and Republicans have shoveled them billions in giveaways in their tax bill. To top it off, one of the only major bipartisan bills that Donald Trump signed has gutted important rules checking some of the country’s biggest banks. [Continue reading…]