January 5, 2016

Bernie Sanders rolled out specifics on how he would contend with Wall Street if elected to the Presidency.

Sanders promised to create a list of the biggest "too big to fail" institutions within the first 100 days of his presidency, and then break them up.

He would also reinstate Glass-Steagall and establish rigid firewalls between insurance, securities and banking.

Sanders then promised to tax Wall Street speculators as penalty for destabilizing markets.

In addition, he would force bond rating agencies to become non-profit entities in order to reduce the possibility of favoritism toward Wall STreet.

Bernie also promised to cap credit card interest rates and consumer loans at a maximum rate of 15 percent, and ATM transaction fees at $2.00.

Probably one of the most progressive and innovative ideas is one originally proposed by Senator Elizabeth Warren to allow Post Offices to offer basic banking services to people, an idea that is long past time to implement.

Finally, he also offered some ideas for reformation of the Federal Reserve Bank, including the practice of paying banks interest to keep money out of circulation. Sanders proposes paying them a fee instead.

The full text of his speech is here, and you can watch the entire speech in the video above.

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. When registering you will also be presented with the option to tie all your old Disqus comments to your new Insticator account. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.