Spin Meter: Sanders will break up the big banks within a year

[pandr32]

Populist rhetoric, pure and simple.

From the linked article:

"Sanders pledges to break up the biggest banks and financial firms within a year of being elected president. "Break them up" is his mantra at rallies around Iowa, where most crowds have been outstripping Clinton's.

But is it that simple? No.

"I just don't see it happening," says Oliver Ireland, an attorney specializing in banking law at Morrison & Foerster who was an associate general counsel at the Federal Reserve. "He's doing populist rhetoric in the Midwest, which is big on populist rhetoric."

A president doesn't have legal authority to unilaterally bust up banks. A regiment of regulators — including the heads of the Federal Reserve, the Federal Deposit Insurance Corp. and other agencies — acting and compromising together would have to carry out those plans. A president is empowered to appoint the regulators. But they have staggered terms, designed to reinforce their independence from the White House. Sanders couldn't replace Fed Chair Janet Yellen right away, for example, Ireland notes.

Assuming that Sanders named people to those jobs who shared his views, they'd then have to win Senate approval. That's unlikely, whether Democrats or Republicans control it."

http://bigstory.ap.org/article/d1564dca25c54e968e531a865ef75a32/ap-spin-meter-sanders-says-hell-quickly-break-big-banks

[Ed Suspicious]

1. Too many hurdles. Nobody but one old track runner willing to jump them.

[Kalidurga]

2. And Hillary never will nor will she try.

[randys1]

3. All true, but who would you rather have running things, someone who is trying to fix things

or someone who is only doing patchwork to try to make it work for both sides.

You see the capitalism we have now doesnt work, and I know mainstream Dems want it to, but it doesnt and wont.

I could go into a lengthy explanation but I am tired of doing it, until people recognize that the vast majority of our current capitalist system is broken and will always only benefit the 1%, nothing can happen

[workinclasszero]

4. Bernies first year: break up the banks, break up wall street,

pass a 15 dollar an hour raise for all working Americans, free cradle to grave health care with zero out of pocket costs, a months paid vacation for all and last but not least..free college as well!

And only the rich will have to pay for it all!!

Sounds fantastic to me!

I mean shit who wouldn't vote for a sugar daddy like Bernie, promising nirvana on earth for all people? All you got to do is BELIEVE!!!


Its just the cynic in me who know that there are going to be millions and millions of pissed off Bernie backers after that first year when none of that stuff happens.

And the second year, and the third year...and then maybe we can start talking about primaring President Bernie because...FUCK THIS SHIT!?

I wish we lived in a country that had a system to make radical change for the majority possible overnight, but we have the exact opposite system in place sad to say.