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Presidential candidate Hillary Clinton was a guest on The Late Show With Stephen Colbert.
- Clinton discussed issues relating to Wall Street, specifically the "abuses in the financial system."
- When asked if Clinton would let banks fail under her watch, she responded: "Yes, yes, yes, yes, yes." Presidential candidate Hillary Clinton was a guest on The Late Show With Stephen Colbert and discussed several campaign issues, including her position on Wall Street banks. Clinton began by pointing out that Paul Krugman, a Nobel prize winning economist for the New York Times, said that Clinton presented a "tough, comprehensive, effective plan" in her op-ed piece titled "My Plan to Prevent the Next Crash" that was published on Bloomberg. Clinton told Colbert that back in 2008 the financial crisis involved "a big insurance company that had to he bailed out, we had an investment bank, Lehman Brothers, that failed. We have to look at the whole financial system and I plan to do that." Colbert then asked if Clinton would let major Wall Street financial institutions fail under her watch as President. "Yes, yes, yes, yes, yes," she answered. Clinton added that banks that do not fail, but engage in "risky behavior" will be assessed a "risk fee" although she did not clarify what constitutes "risky behavior." "Their shareholders need to know that yes they will fail," Clinton added. "And if they're too big to fail, then, under my plan and others that have been proposed, they may have to be broken up." "If you can't manage it, it's more likely to fail," she concluded to the delight of the audience.
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