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turbo said:
Describe how current RBC rules fail to accomplish this at this time. Details, please.
turbo said:One regulation that I would dearly love to see: Banks must maintain capital reserves in excess of their speculations.
Elizabeth Warren's election was seen as a crushing defeat for big banks because she has been a vocal critic of their practices and has advocated for stricter regulations and accountability for their actions.
Elizabeth Warren has proposed policies such as breaking up big banks to prevent them from becoming "too big to fail," implementing a new Glass-Steagall Act to separate commercial and investment banking, and creating a Consumer Financial Protection Bureau to protect consumers from predatory practices.
Big banks expressed concern and opposition to Elizabeth Warren's election, as her policies would likely lead to increased regulations and oversight for their industry.
It is likely that Elizabeth Warren's election will have a significant long-term impact on the financial industry, as her policies and actions as a senator have shown her dedication to reforming and regulating big banks.
In addition to big banks, other industries such as Wall Street, the financial sector, and lobbyists may also be affected by Elizabeth Warren's election, as she has been a vocal advocate for reducing their influence and power in politics.