WATCH: Clinton Surprises Colbert: Yes, I'd Let the Banks Fail

Still rolling after her recent bump in the polls, Democratic presidential hopeful Hillary Clinton was on the Late Show with Stephen Colbert Tuesday night to pitch herself as a woman of the people.  

In the 14-minute segment, the former Secretary of State came off confident and fresh. She hit her rather generic talking points about the middle class while positioning herself as a pragmatic progressive who can "get things done." She fielded an array of questions about her past, her motivations for running for president, and where she stands on inequality. 

"The wealthy need to pay more," Clinton said. "I'm just sorry to break it to you."

Colbert interrupted, saying, "I am conflicted, recently." The Late Show host scored a multi-million-dollar contract with CBS as Letterman's replacement, but seemed sympathetic to Clinton's populist overtures. Clinton doubled down, striking one of the more leftist tones she has in her campaign.

"We have to raise the minimum wage, it's a poverty wage," Clinton said. "It's disgraceful people are working full-time and can't get out of poverty." The most startling revelation, however, came when Colbert pushed back on Clinton's noted relationship with Wall Street. 

"If you're president," Colbert asked, "and the banks fail. Do we let them fail this time?"

"Yes. Yes," Clinton insisted. "Under Dodd-Frank that is what will happen... they have to know, their shareholders have to know, they will fail. And if they are 'too big to fail' under my plan, and others that have been proposed, they will have to be broken up."

It's a rather vague claim, but significant nonetheless. Laying out the specter of bank closures is an unusual step for the historically pro-Wall Street Clinton. Does Clinton mean it, or is she just grandstanding? 

Watch the clip below and decide for yourself:

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.