The Latest: Sanders to push plan to hold banks accountable

[FreakinDJ]

Source: Associated Press

Sanders to push plan to hold banks accountable


Vermont Sen. Bernie Sanders is rolling out a plan to hold Wall Street banks accountable. In a reference to Oliver Stone's 1980s film, "Wall Street," Sanders plans to say Tuesday that "greed is not good."

The Sanders campaign says he will note that the federal government bailed out several financial institutions in 2008 but now three of the four largest financial institutions — JP Morgan Chase, Bank of America and Wells Fargo — are nearly 80 percent bigger than before the bailout.

Sanders is pledging to require the Treasury secretary to establish a "Too Big to Fail" list of commercial banks, shadow banks and insurance companies whose failure would pose a "catastrophic risk" to the U.S. economy.

He says within a year he will break up those financial institutions on the list and push for legislation to separate commercial and investment banking.


Read more: http://www.sfgate.com/news/science/article/The-Latest-Trump-debuts-TV-ad-for-early-voting-6735025.php

[Uncle Joe]

1. Kicked and recommended.

Thanks for the thread, FreakinDJ.

[madokie]

2. This is a perfect example of why

I'm a Bernie supporter

[JonathanRackham]

3. The bank leadership and individual managers personally.

Hold individuals within the bank personally accountable as well. This would help in asset recovery.

[Andy823]

4. So how can this be done?

"He says within a year he will break up those financial institutions on the list and push for legislation to separate commercial and investment banking."

Can he do this without congress?

[Tom Rinaldo]

5. The first step is always deciding that it needs to be done.

Without that it will never happen.

[Andy823]

10. Yes but,

My question was how can he do it without congress? If he needs congress to pass laws, it isn't going to happen as long as republicans control the house.

[Tom Rinaldo]

11. That requires populist fire

Too many Democrat shy away from it and as a result the Republican Right has gotten a free hand to mine that discontent without real opposition. Bernie breaks through across party lines because he IS a populist with real populist appeal.

[CharlotteVale]

6. K&R

[gordyfl]

7. Poll: Majority Wants to Break up Big Banks

The idea of Uncle Sam breaking up the country's biggest banks may sound far-fetched, but most Americans are actually in favor of doing just that.

A poll released this week by the Progressive Change Institute showed 58 percent of Americans support breaking up "big banks like Citigroup, which played a big role in the financial crisis and recently demonstrated they still have too much power by lobbying for and winning the repeal of a major reform designed to stop Wall Street abuse and taxpayer bailouts."

61 percent of Democrats in favor (17 percent opposed).

47 percent of Republicans in favor (31 percent opposed).

60 percent of independents in favor (24 percent opposed).


http://www.bankrate.com/financing/banking/poll-majority-wants-to-break-up-big-banks/#ixzz3wNU1rZt4

[Duval]

9. Interesting! Thanks, gordyfl

[Duval]

8. Kicked and recommended. Banks need to be held accountable for the

recession and I hope we are not headed for another one. Breaking up the banks cannot happen too soon. Our country needs Bernie.