Bernie Sanders is putting Big Bankers on notice. If elected, Bernie Sanders promises that he will reinstate FDR era laws that have become watered down over the last few decades. Bankers have broken laws, and in the future, they can forget about fines. Bankers will be looking at some serious jail time when they commit crimes, just like any other citizen.
“Under my administration, Wall Street CEOs will no longer receive a get-out-of jail free card. Big banks will not be too big to fail. Big bankers will not be too big to jail.”
Equal Justice Under The Law
Bernie Sanders commented on how many people were in jail for marijuana use, while the bankers, who destroyed the entire economy, suffered no punishment at all. Not one of them went to jail, and the fines imposed only amounted to 2 percent of the profits they made off blatantly illegal activities. According to the transcript posted on Market Watch, Bernie Sanders laid down the law to Wall Street in his most recent speech; No more fraud, no more drug money laundering, and no more too big to fail.
“‘Equal Justice Under Law'” will not just be words engraved on the entrance of the Supreme Court. It will be the standard that applies to Wall Street and all Americans.”
Bernie Sanders Wants Economic Justice Too
Bernie Sanders’ attack on the Banks isn’t random. He is addressing the major reasons for our failed economy one by one. Sanders doesn’t obfuscate the fact that America’s economic crisis remains. He echos Occupy Wall Street chants as he discusses the plight of the average American Citizen.
“The top one-tenth of 1 percent own almost as much wealth as the bottom 90 percent and when the 20 richest people own more wealth than the bottom 150 million Americans – half of our population. They know that the system is rigged when the average person is working longer hours for lower wages, while 58 percent of all new income goes to the top 1 percent.”
Unlike other candidates and party representatives, Sanders acknowledges the American Dream is rapidly disappearing. People are so much poorer today than we were in the previous century, and now is the time to correct that problem. The Feel the Bern website explains who Bernie is and what he represents to voters. It also reveals his passion to use only small contributions and Union support to win this election. He doesn’t take corporate money. In his speech January 5, Bernie Sanders stated the facts a lot more harshly than The White House account of the Obama State of the Union Address dared.
“Let me start with the economy, and a basic fact: the United States of America, right now, has the strongest, most durable economy in the world. We’re in the middle of the longest streak of private-sector job creation in history,” stated Obama.
“The American middle class continues to disappear, poverty is increasing and the gap between the very rich and everyone else is growing wider and wider. And Wall Street executives still receive huge compensation packages as if the financial crisis they created never happened.”
Bernie Sanders is after the bankers who cause economic chaos, not merely for the sake of punishing them, but to protect ordinary Americans who are struggling, by leveling the playing field. If elected, Bernie Sanders promises to stand up for the American People, strengthen Social Security and provide college education and medicaid for all citizens. He has also said that he would punish corporations that export American jobs, rather than reward them as the last two administrations have done.
If Elected Bernie Sanders Will Break The Bank
Bernie is determined to break the bank. Break the banks up that is. Banks will no longer be too big to fail. Bernie Sanders will put a stop to their corruption, money laundering and fraud. Sanders cited Teddy Roosevelt briefly before outlining his plan to make banks smaller and more accountable to government, not the other way around.
“If Teddy Roosevelt, the Republican trust-buster, were alive today, he would say “break ’em up.” And he would be right, and, here’s how I will accomplish that.
Within the first 100 days of my administration, I will require the secretary of the Treasury Department to establish a “Too-Big-to Fail” list of commercial banks, shadow banks and insurance companies whose failure would pose a catastrophic risk to the United States economy without a taxpayer bailout.
Within one year, my administration will break these institutions up so that they no longer pose a grave threat to the economy as authorized under Section 121 of the Dodd-Frank Act.”
Bernie Sanders knows that small banks don’t ruin an economy, they build it at a community level. They offer the loans that people need, and they do that more fairly. Sanders believes that the Government should work for and help the American people, not just the elite. FDR was the right man for his time, is Bernie Sanders the man for ours?
[Photo by Getty Images/Joshua Lott]