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Rick Perry to NYC Crowd: 'I Will Reform Wall Street'

Rick Perry to NYC Crowd: 'I Will Reform Wall Street'
(Getty Images/Chip Somodevilla)

By    |   Wednesday, 29 July 2015 06:29 PM

Republican candidate for president Rick Perry said Wednesday he would "reform Wall Street" if elected, adding that he wouldn't provide any help to the big banks of America.

The former governor of Texas gave a speech at Manhattan's Yale Club and, according to the Texas Tribune, had some bold things to say about the nation's financial institutions.

After saying the "next [market] crash is on the horizon," Perry added, "If you elect me president, I will reform Wall Street and I will reform Washington."

Later, he vowed not to "bail out a single bank on Wall Street."

Perry struck a populist tone throughout speech, reports the Tribune.

"After the bailouts of 2008, Americans came to believe that Wall Street is out for itself," Perry said. "That the game is rigged. That the wealthy and the well-connected have insurmountable advantages over average Americans who simply work hard and play by the rules."

Perry has a long political resume in Texas, first serving as a state representative in the late 1980s, and then working under then-Gov. George W. Bush as the Commissioner of Agriculture until 1999. After an almost two-year stint as lieutenant governor, Perry was sworn in as governor in 2000, a role he held until this year.

Perry criticized Hillary Clinton, the leading Democratic candidate for president, several times during the speech, the Tribune reports.

"If Secretary Clinton wants to take credit for the 'Clinton economy,' then she must defend the destructive home ownership policies advocated by her husband that pushed shoddy loans to people who  couldn't afford them, and the economic chaos that pursued," Perry said.

Also on the subject of big banks, Perry discussed the Export-Import Bank in May and relayed his concerns about the government agency that handed out loans and loan guarantees to foreign countries in exchange for buying American-made products. Its Congressional authorization ended July 1.

"In Texas, we have long maintained a stable and predictable regulatory climate. We balanced our budget for 14 straight years," Perry wrote. "And we have worked hard to keep the tax burden on families and employers as low as possible. Those policies have resulted in a sustained economic boom for the state.

"If we want to bring Texas' prosperity to the nation as a whole, we'll have to do a lot more than terminate Ex-Im. But that's where we should begin."

Perry ran for president in the 2012 election but pulled out after a lackluster showing in the Iowa caucuses. This time around, Perry says his experience leading Texas will bolster his cause.

"[Texas has] an economy that's basically the same size as Canada or Australia. We created more jobs from 2007 through 2014, 1.5 million jobs, while the rest of the country collectively lost 400,000. So it's not just the 14 years of executive experience, it's the results," Perry told Newsmax TV last month.

"It's going to be a show me, don't tell me election and I'm very proud of the record that we had. Nobody even got close to doing what Texas did during one of the most trying times economically in this country's history since the Great Depression. That's when you really want to see how somebody performed."

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Republican candidate for president Rick Perry said Wednesday he would "reform Wall Street" if elected, adding that he wouldn't provide any help to the big banks of America.
Rick Perry, reform, wall street, Export-Import Bank, close, corporate welfare
Wednesday, 29 July 2015 06:29 PM
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