The Latest: Biden warns fiscal plans reminiscent of 2008
WASHINGTON — The Latest on President-elect Donald Trump (all times EST):
4:40 p.m.
Vice-President Joe Biden says that some of the economic proposals under discussion as a new administration prepares to enter the White House are the same ones that led to “this God-awful recession of eight years ago.”
Speaking at Georgetown University on financial regulation, Biden says banks and other financial institutions knew they had a backstop in the form of the American taxpayer, so they took excessive risks. He says legislation designed to reduce such risk-taking should not be repealed.