- Jul 17, 2003
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http://www.huffingtonpost.com/2015/05/06/bernie-sanders-too-big-to-fail_n_7225192.html
Have to say, I am in complete agreement with him on this one. I also like that it puts Hillary in a spot to respond.
From his senate page on his announcing of the bill:
Bernie Sanders on Wednesday introduced legislation to break up the nations biggest banks in order to safeguard the economy and prevent another costly taxpayer bailout. Rep. Brad Sherman proposed a companion bill in the House.
No single financial institution should have holdings so extensive that its failure could send the world economy into crisis, Sanders said. If an institution is too big to fail, it is too big to exist.
The biggest banks in the United States are now 80 percent bigger than they were one year before the financial crisis in 2008 when the Federal Reserve provided $16 trillion in near zero-interest loans and Congress approved a $700 billion taxpayer bailout.
Never again should a financial institution be able to demand a federal bailout, Sherman said. They claim; If we go down, the economy is going down with us, but by breaking up these institutions long before they face a crisis, we ensure a healthy financial system where medium-sized institutions can compete in the free market.
God damn fucking straight, bolded portions for absolute agreement.:thumbsup:
Have to say, I am in complete agreement with him on this one. I also like that it puts Hillary in a spot to respond.
From his senate page on his announcing of the bill:
Bernie Sanders on Wednesday introduced legislation to break up the nations biggest banks in order to safeguard the economy and prevent another costly taxpayer bailout. Rep. Brad Sherman proposed a companion bill in the House.
No single financial institution should have holdings so extensive that its failure could send the world economy into crisis, Sanders said. If an institution is too big to fail, it is too big to exist.
The biggest banks in the United States are now 80 percent bigger than they were one year before the financial crisis in 2008 when the Federal Reserve provided $16 trillion in near zero-interest loans and Congress approved a $700 billion taxpayer bailout.
Never again should a financial institution be able to demand a federal bailout, Sherman said. They claim; If we go down, the economy is going down with us, but by breaking up these institutions long before they face a crisis, we ensure a healthy financial system where medium-sized institutions can compete in the free market.
God damn fucking straight, bolded portions for absolute agreement.:thumbsup: