Bloomberg Nods to Progressives With Wall Street Transaction Tax

Democratic presidential candidate Michael Bloomberg released a series of financial regulation proposals Tuesday that represent a sharp leftward tack for the Wall Street billionaire, more closely aligning himself with progressives like Bernie Sanders and Elizabeth Warren.

The regulations include a 0.1% transactions tax, which is sure to elicit negative reactions from pro-business groups.

Bloomberg, who has been criticized by progressives for his close ties to Wall Street, also proposed merging Fannie Mae and Freddie Mac and regulating Wall Street in a way that ensures the financial system is “strong enough to weather crises without harming the broader economy or ...