Clinton camp asks Sanders: Break up big banks? How?

[riversedge]

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riversedge (19,271 posts)

Clinton camp asks Sanders: Break up big banks? How?

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Source: Reuters



Clinton camp asks Sanders: Break up big banks? How?


By Amanda Becker

April 7, 2016


By Amanda Becker

WASHINGTON (Reuters) -....................

In an email to supporters, a senior Clinton campaign aide said “even on his signature issue of breaking up the banks” Sanders had been “unable to answer basic questions." The email included a transcript of the full interview.

“If you are going to be a single-issue candidate, at least know your single issue,” Clinton press secretary Brian Fallon said on Twitter.

"After reading the NYDN interview today, I feel like someone should ask HOW after every one of these declarative sentences in Sanders stump," deputy press secretary Jesse Ferguson posted Tuesday on Twitter.

Sanders, a U.S. Senator from Vermont, has made reducing income inequality and breaking up “too-big-to-fail” banks central to his presidential campaign, blasting Clinton for money she received for speeches to banks and accusing her of being too closely tied to the financial industry.

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Clinton told CNN on Wednesday she was "appalled" by statements Sanders made to the New York Daily News about gun manufacturer liability and said it was “unclear as to whether he understood how Dodd-Frank works,” referring to a Wall Street reform law.

(Additional reporting by Megan Cassella; Editing by Simon Cameron-Moore and Jeffrey Benkoe)

Read more: https://www.yahoo.com/news/clinton-sanders-turn-spiky-ahead-york-primary-100817640.html



I imagine Sanders--by the time of the debate will have done his homework and have answers as to How his goal of breaking up he banks will be accomplished. (We can debate the how--the policy then)

[LexVegas]

1. Pointing really hard and a big hammer, like they use at the State Fair. nt

[WhenTheLeveeBreaks]

2. To tell the truth

I'm not so much interested in "How" you would go about breaking up the "Big Banks" but rather the following:

1) What does "breaking up the big banks" mean? Is this like Standard Oil or AT&T where the parent must break up into regional independent entities? Does it mean it will limit the kind of investment activities a "bank" can participate in, ie, savings vs investment vs etc, etc? Does it mean that past acquisitions will be reversed, ie, JP Morgan and Chase?

2) What does "too big to fail" mean? It cannot possibly mean that an entity is so large that it cannot possibly fail? Obviously that's not what it means as no matter how big something is it can still go bankrupt? Entire countries can go bankrupt. Does it mean that an entity is so big that the US government cannot allow it fail, ie, backstop failure? This is the answer to what it means. One answer is that the US taxpayers get out of the business of backstopping failure.

Is Bernie's arguing that the US taxpayers need to get out of the business of backstopping failure?

If this is what "too big too fail" means to Bernie then that brings up some interesting questions. Unions, General Motors, Puerto Rico, Solyndra, and, of course, TARP and the banks, etc, etc.

Don't get distracted by the answer/non-answer to "How" but instead focus on the "What".

[Armstead]

3. Clinton's message to liberals and progressives:

Abandon All Hope Ye Who Enter Here