10 Powerful Reasons Why Bernie Scares Wall Street

[Ferd Berfel]

http://www.alternet.org/election-2016/10-powerful-reasons-why-bernie-scares-wall-street



Some of Sanders' suggestions: Break up banks. Tax speculators. Cap interest rates.

Bernie Sanders has declared war on the biggest players in Wall Street’s financial sector, saying they are overrun with “greed, fraud, dishonesty and arrogance,” and criticizing his top rival for the Democratic nomination, Hillary Clinton, as being naïve about what needs to happen to create a financial system that “works for all Americans

Here are the 10 major components to Sanders’ Wall Street reforms.

1. End too-big-to-fail.
2. Break up the biggest banks.
3. Pass a 21st-century Glass-Steagall Act
4. End too-big-to-jail
5. Criminalize Wall Street’s business mode
6. Tax the casino culture
7. Reform the financial rating agencies
8. Cap credit card interest and ATM fees
9. Let the USPS offer banking
10. Reform the Federal Reserve


Just the Beginning

As striking as Sanders’ reforms sound, he said they were unlikely to be sufficient to ensure that American capitalist excesses do not harm the country again.

“No president, not Bernie Sanders or anyone else, can effectively address the economic crises facing the working families of this country alone,” he said. “The truth is that Wall Street, corporate America, the corporate media and wealthy campaign donors are just too powerful.”

But Sanders said that new rules of the financial game could be written and that government could force Wall Street to follow them.

“Yes, we can make our economy work for all Americans,” he said. “And so my message to you today is straightforward: If elected president, I will rein in Wall Street so they can’t crash our economy again. Will they like me? No. Will they begin to play by the rules if I’m president? You better believe it.”
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I WANT someone who scares the hell out of Wall Street. Not someone who doesn't even acknowledge the problems, or pretends they can't be fixed

[Motown_Johnny]

1. Can't be bought.

I really think that is the biggest reason. If they could buy him, the rest wouldn't matter.

[Punkingal]

2. Or someone who is part of the problem.