Bernie Sanders
[Elections 2016]
Bernie Sanders delivered another amazing speech this week, complete with his economic plan that involves breaking up big banks and holding financial executives accountable.
The speech, given in New York City on Tuesday, consisted of Senator Sanders’ new proposals to break up Wall Street big banks and reinstate the Glass-Steagall Act.
Sanders vows that if he becomes president he will break up all financial institutions who’s failure would have a catastrophic effect on the U.S. economy.
He says he will do this within his first year in the White House. He will put an end to “too big to fail.”
The presidential candidate also called out his rival, Hillary Clinton, on her statement about Glass-Steagall not preventing the financial crisis. He debunked this claim by saying: “Shadow banks did gamble recklessly, but where did that money come from? It came from the federally insured bank deposits of big commercial banks — something that would have been banned under the Glass-Steagall Act.”
Senator Sanders also plans a complete overhaul of the Federal Reserve: “We need to structurally reform the Federal Reserve to make it a more democratic institution responsive to the needs of ordinary Americans, not just billionaires on Wall Street.”
Of course, Sanders’ speech wasn’t covered by any major media source and may have even been censored on YouTube.
Sanders’ supporters didn’t let him down though, spreading updates and live tweeting parts of the speech through the official hashtag #BreakEmUp
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