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Sanders to lay out plan to break up big banks in first year
Source: Reuters
Politics | Tue Jan 5, 2016 12:04pm EST
Sanders to lay out plan to break up big banks in first year
WASHINGTON | BY AMANDA BECKER
U.S. Democratic presidential candidate Bernie Sanders, who has made reining in Wall Street a top campaign theme, will warn on Tuesday that financial-sector greed is "destroying the fabric of our nation" and detail his plan to break up big banks, his campaign said.
Sanders will deliver what his campaign is calling a "major policy address" on Wall Street reform in New York.
The U.S. senator from Vermont is challenging front-runner Hillary Clinton, a former U.S. senator from New York, and former Maryland Governor Martin O'Malley for the Democratic nomination to run for president in November 2016.
Sanders will also respond to criticism from Clinton's campaign that his approach would not adequately regulate non-bank financial institutions, and explain why he favors reinstating the Glass-Steagall Act, a Depression-era law that prohibited commercial banks from engaging in investment banking activities.
"If a bank is too big to fail, it is too big to exist; when it comes to Wall Street reform, that must be our bottom line," Sanders will say, according to prepared remarks provided at Reuters' request.
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Sanders to lay out plan to break up big banks in first year
WASHINGTON | BY AMANDA BECKER
U.S. Democratic presidential candidate Bernie Sanders, who has made reining in Wall Street a top campaign theme, will warn on Tuesday that financial-sector greed is "destroying the fabric of our nation" and detail his plan to break up big banks, his campaign said.
Sanders will deliver what his campaign is calling a "major policy address" on Wall Street reform in New York.
The U.S. senator from Vermont is challenging front-runner Hillary Clinton, a former U.S. senator from New York, and former Maryland Governor Martin O'Malley for the Democratic nomination to run for president in November 2016.
Sanders will also respond to criticism from Clinton's campaign that his approach would not adequately regulate non-bank financial institutions, and explain why he favors reinstating the Glass-Steagall Act, a Depression-era law that prohibited commercial banks from engaging in investment banking activities.
"If a bank is too big to fail, it is too big to exist; when it comes to Wall Street reform, that must be our bottom line," Sanders will say, according to prepared remarks provided at Reuters' request.
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Read more: http://www.reuters.com/article/us-usa-election-sanders-idUSKBN0UJ1Q920160105
