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Sen Sanders - If The Big Banks Are Too Big To Fail, Then Break Them Up
Senator Sanders on the big banks:
The function of banking is to facilitate the flow of capital into productive and job-creating activities. Financial institutions cannot be an island unto themselves, standing as huge profit centers outside of the real economy.
Today, six huge Wall Street financial institutions have assets equivalent to 61 percent of our gross domestic product – over $9.8 trillion. These institutions underwrite more than half the mortgages in this country and more than two-thirds of the credit cards.
The greed, recklessness and illegal behavior of major Wall Street firms plunged this country into the worst financial crisis since the 1930s.
They are too powerful to be reformed. They must be broken up.
Today, six huge Wall Street financial institutions have assets equivalent to 61 percent of our gross domestic product – over $9.8 trillion. These institutions underwrite more than half the mortgages in this country and more than two-thirds of the credit cards.
The greed, recklessness and illegal behavior of major Wall Street firms plunged this country into the worst financial crisis since the 1930s.
They are too powerful to be reformed. They must be broken up.
Stand with Senator Sanders to address controlling the powerful banks and Wall Street firms.
See more on this and Sen Sanders other proposals at: https://berniesanders.com/issues/
Cross Posted in GD
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