In Sen. Elizabeth Warren's keynote speech last week at Netroots Nation, she issued a powerful challenge to all 2016 presidential candidates to commit to putting the needs of working families first by ending the revolving door between Wall Street and Washington.
Now, Sen. Tammy Baldwin has introduced legislation that would make it significantly more difficult and less lucrative to hop from Wall Street to Washington: the Financial Services Conflict of Interest Act. It would make it illegal for government employees to receive bonuses from former employers while on duty, and would force politicians to wait two years before returning to Washington as lobbyists.
Here's what Elizabeth Warren had to say at Netroots Nation about Sen. Baldwin's bill:
The bill would put an end to Wall Street banks giving multi-million dollar bonuses to their executives for taking on government jobs. No more paying people off to remember their Wall Street friends while they run our government. No more wink-and-a-nod working-in-the-public-interest while pocketing millions of dollars from your friends on Wall Street -- the same friends who will welcome you back once your turn through the government is over.
That won’t fix everything, but it will throw some heavy sand in the gears of the revolving door -- and it's a bill any presidential candidate should be able to cheer for.
We couldn't agree more. But while both Sen. Bernie Sanders and Gov. Martin O'Malley are already on the record supporting significant, concrete reforms like these, Hillary Clinton has yet to commit to supporting anything specific to stop the Wall Street revolving door.
Sen. Tammy Baldwin's bill is a common-sense measure that would permanently slow down the Wall Street revolving door -- one that all of our Democratic candidates should be eager to support. Tell Hillary Clinton to speak out in support of the Financial Services Conflict of Interest Act today!