Mike Bloomberg said in 2016 that banks were 'his peeps' and vowed to defend them as president. That contradicts his recent pledge to get tough on Wall Street. | Markets Insider

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Mike Bloomberg said in 2016 that banks were 'his peeps' and vowed to defend them as president. That contradicts his recent pledge to get tough on Wall Street.

During the appearance, Bloomberg said income inequality was an issue that needed to be confronted before society"blows up."

"But seriously," he added,"somebody's gotta stand up and do what we need: a healthy banking system that's going to take risks because that's what creates the jobs for everybody. And nobody's willing to say that. The trouble is, these campaigns in this day and age, really are about slogans and not about issues anymore."The remarks appear to contradict Bloomberg's 2020 campaign promise to get tough on Wall Street.

Stu Loeser, a campaign spokesperson, told CNN"the opening line" on defending the banks"was a joke" and pointed to Bloomberg's full answer on the need for the wealthiest Americans to abandon policies that worsen inequality.The former mayor later detailed a possible set of solutions to curb inequality, which could include new taxes.

Source: Financial Digest (financialdigest.net)

 

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