Actually, Bernie Sanders Does Have a Clear Plan for How to Break Up Too-Big-to-Fail Banks

[Rebkeh]

Actually, Bernie Sanders Does Have a Clear Plan for How to Break Up Too-Big-to-Fail Banks

Apr 6, 2016
Andrea Germanos / Common Dreams

:snip:

But as New York Times finance and business reporter Peter Eavis argued, “taken as a whole, Mr. Sanders’s answers seem to make sense. Crucially, his answers mostly track with a reasonably straightforward breakup plan that he introduced to Congress last year.”

Sanders told the Daily News, “How you go about [breaking up the dangerously large institutions] is having legislation passed, or giving the authority to the secretary of treasury to determine, under Dodd-Frank, that these banks are a danger to the economy over the problem of too-big-to-fail,” later adding that it’d be the banks’ decision “how they want to reconfigure themselves.”

“You would determine is that, if a bank is too big to fail, it is too big to exist. And then you have the secretary of treasury and some people who know a lot about this, making that determination. If the determination is that Goldman Sachs or JPMorgan Chase is too big to fail, yes, they will be broken up,” he said.

Read in full:
http://www.truthdig.com/report/item/in_fact_sanders_has_a_very_clear_plan_20160406

[Sheepshank]

1. Haa haa haa...now that he's had some time to think it over

....his plan is to let the banks figure it out.

And the final "yes, they will be broken up". Gives us all the details we deserve? Hardly.

[IamMab]

2. I saw Sanders described as "the dog who caught the car" on this issue.

His whole brand is built on voting against everything based on some trumped-up reason and then taking credit after-the-fact for any positives that come about from bills he never supported.

It's not surprising to find out that he has no clue, no plan, and no idea what he'd actually do as President. Maybe that bullshit flies up in Vermont, but not out here in the real world.

[Sheepshank]

3. That is exactly what he is doing with his statement that he will create a list..

....of companies too big to fail.

That list already exists and has requirements of operations for any bank on that list.

Attempting to take credit for somethig already done. He's a fake and a liar.

[Rebkeh]

5. He's been doing this for 30+ years

But like I always say...

then don't vote for him.

[Rebkeh]

4. Someone hasn't bothered to read his website

Or listened to his speeches.

But that's fine. Vote however you will, I truly do not care.

[pat_k]

6. Of course! As discussed in WaPo, NYTimes, and Roosevelt Inst. articles (links)

Let’s Dispel Once and for All With This Fiction That Sanders Doesn’t Know How to Break Up Banks
04.05.16
Mike Konczal is a Fellow with the Roosevelt Institute

http://rooseveltinstitute.org/sanders-ending-tbtf/

==================================

Why Bernie Sanders knows more about big banks than his critics are saying
By Max Ehrenfreund
April 7 at 1:50 PM

https://www.washingtonpost.com/news/wonk/wp/2016/04/07/bernie-sanders-has-a-plan-to-break-up-the-big-banks/

================================

Yes, Bernie Sanders Knows Something About Breaking Up Banks
By Peter Eavis
New York Times
APRIL 5, 2016

http://www.nytimes.com/2016/04/07/upshot/yes-bernie-sanders-knows-something-about-breaking-up-banks.html