Hillary Clinton's campaign is boasting that their candidate is being advised on Wall Street policy by a former Goldman Sachs executive and a current bank official -- and Clinton is now echoing that official's opposition to reinstating a law that many say is necessary to better regulate the financial services industry.
According to a story in Politico -- tweeted out by Clinton's campaign spokesperson -- the Democratic presidential candidate has been getting input from former Democratic Rep. Barney Frank, who was appointed to the board of New York's Signature Bank after leaving Congress.
The newspaper says Frank, one of the namesakes of the Dodd-Frank financial reform bill, has been working on the Clinton campaign's Wall Street policy with Gary Gensler, a former longtime Goldman Sachs executive who was appointed by President Barack Obama to head the Commodity Futures Trading Commission. Gensler, who was credited as a tough regulator during his time in government, is now the Clinton campaign's chief financial officer.
Frank in recent months has made headlines opposing the push by some progressive lawmakers -- including U.S. Sens. Elizabeth Warren and Bernie Sanders -- to reinstate the Glass-Steagall Act, which was repealed by legislation signed by President Bill Clinton. Hillary Clinton said Tuesday she does not support reinstating the Depression-era law, which sought to keep commerical banks separate from investment banks.