170 Prominent Economists Back Bernie Sanders’ Plan to Rein in Wall Street

[Claudette]

I must have missed the plans other candidates have for breaking up the banks. Could somebody enlighten me for compare and contrast purposes?

170 Prominent Economists Back Bernie Sanders' Plan to Rein in Wall Street

Financial experts, academics, and economists from across the nation are officially endorsing Bernie Sanders’ proposal to break up big banks and bring justice to Wall Street. In a speech earlier this month in the heart of New York City’s financial district, Sanders outlined his plan to reform Wall Street that included, among other things, passing a new law similar to the Glass-Steagall bill of the 1930s that would separate commercial banking from investment banking — effectively breaking up the biggest Wall Street banks into smaller institutions. Sanders also pledged to take action to cap ATM fees at $2 per use, make usurious interest fees illegal, levy a sales tax on all financial transactions on Wall Street to discourage speculative trading, and bring criminal charges against the banking executives responsible for the 2008 financial crisis. Here’s video of the full speech:

I must have missed the plans other candidates have for breaking up the banks

Why is a $1 trillion dollar bank worse than ten $100 billion banks?

levy a sales tax on all financial transactions on Wall Street to discourage speculative trading,

Yes! Charging your mutual fund when it buys or sells will be a great help to the markets. Huh?

and bring criminal charges against the banking executives responsible for the 2008 financial crisis.

If they charge the law breakers at Fannie and Freddie as well as the Congressmen who contributed to the crisis, I'm all for it.

Barney Frank and Chris Todd both belong in jail.

 

[Toddsterpatriot]

The banks lost trillions. Sounds like they paid for the consequences.

No they didn't . Their shareholders and taxpayers did. The people making the decisions still got their golden parachutes, severance packages and new jobs.

Yes they did. The banks lost trillions. The share price went down. Shareholders lost money. CEOs were fired. CEOs lost on their stock and options. Which CEOs got new jobs? Link?

You think they didn't get new jobs?!?! You're right, I don't have a link. I'm just using common sense and knowledge of how the system works. Suggest you do the same.

I think you think they did.
You just can't prove it.

 

[Confounding]

Do you feel that all banks didn't lose money during the crisis?

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

 

[Toddsterpatriot]

Do you feel that all banks didn't lose money during the crisis?

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

 

[Confounding]

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This statement has convinced me that you don't actually understand the point. Oh well, I tried.

 

[Toddsterpatriot]

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This statement has convinced me that you don't actually understand the point. Oh well, I tried.

Yes, your ignorance has failed.

 

[g5000]

170 Prominent Economists Back Bernie Sanders' Plan to Rein in Wall Street

From the link:

Among the 170 economists and professors backing Sanders’ plan are former U.S. Secretary of Labor Robert Reich, Dean Baker of the Center for Economic and Policy Research, professor James K. Galbraith of the University of Texas, and John Miller of Wheaton College.

Gee, what a surprising list of names...not.

 

[RDD_1210]

Bernie promotes the socialist idea of the government seizing more control of business. He is advocating a bigger, more powerful, controlling government - the antithesis of what our Founding fathers intended. It all sounds great, but he is spreading the agenda of turning the nation into a Socialist country and ignoring / turning our backs farther away from the Constitution than it already is. Some people are all for that...I am not.

No, he isn't.

 

[RDD_1210]

Do you feel that all banks didn't lose money during the crisis?

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This topic is WAY over your head if you can't understand even the simplest of concepts. Please lie down and rest.

 

[Weatherman2020]

OMG. A list of leftist university professors who never worked a day in their lives from a ultra lib website.

 

[Weatherman2020]

 

[g5000]

Why is a $1 trillion dollar bank worse than ten $100 billion banks?

If a smaller bank makes a stupid decision we won't be obligated to save their asses to keep the economy from falling apart.

Exactly.

Systemic risk

 

[Toddsterpatriot]

Do you feel that all banks didn't lose money during the crisis?

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This topic is WAY over your head if you can't understand even the simplest of concepts. Please lie down and rest.

There's another liberal who doesn't understand accounting or banking. Shocker.

 

[easyt65]

Bernie Sanders has been in Congress how long?

"Sen. Bernard Sanders‘ promises of a democratic socialist revolution have enthralled liberal voters this campaign season, but the Vermont independent’s legislative record shows he has had a tough time turning his progressive vision into reality. It’s a record matched by most other members of Congress, who struggle to find legislative niches where they can advance their priorities. It also underscores the concerns among many in the Democratic Party establishment that their champion in next year’s elections needs to have a record of successes in addition to a liberal vision."

Bernie Sanders’ record in Congress shows little socialist progress

Bernie has possibly slightly more of a claim to having done something while he has been in that Hillary.

He is campaigning partly on 'Free Shit'. The man is an avowed, self-declared Socialist.

 

[g5000]

View attachment 62949

Sanders is all too aware Clinton has 80 percent of the South Carolina black vote locked up. He is trying to gain some street cred by dining with Al.

 

[RDD_1210]

Do you feel that all banks didn't lose money during the crisis?

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This topic is WAY over your head if you can't understand even the simplest of concepts. Please lie down and rest.

There's another liberal who doesn't understand accounting or banking. Shocker.

You're liberal?

Never would have guessed it.

 

[Toddsterpatriot]

Do you feel that all banks didn't lose money during the crisis?

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This topic is WAY over your head if you can't understand even the simplest of concepts. Please lie down and rest.

There's another liberal who doesn't understand accounting or banking. Shocker.

You're liberal?

Never would have guessed it.

More liberal confusion. Very surprising.

 

[Contumacious]

I must have missed the plans other candidates have for breaking up the banks. Could somebody enlighten me for compare and contrast purposes?

170 Prominent Economists Back Bernie Sanders' Plan to Rein in Wall Street

Financial experts, academics, and economists from across the nation are officially endorsing Bernie Sanders’ proposal to break up big banks and bring justice to Wall Street. In a speech earlier this month in the heart of New York City’s financial district, Sanders outlined his plan to reform Wall Street that included, among other things, passing a new law similar to the Glass-Steagall bill of the 1930s that would separate commercial banking from investment banking — effectively breaking up the biggest Wall Street banks into smaller institutions. Sanders also pledged to take action to cap ATM fees at $2 per use, make usurious interest fees illegal, levy a sales tax on all financial transactions on Wall Street to discourage speculative trading, and bring criminal charges against the banking executives responsible for the 2008 financial crisis. Here’s video of the full speech:

SHUT THE FUCK UP

BANKING WAS NATIONALIZED BY THE FEDERAL RESERVE ACT OF 1913 WHICH SUBSEQUENTLY CAUSED THE NATION TO GO BANKRUPT.

DON"T YOU STUPID MOTHERFUCKERS EVER LEARN?


/.

 

[g5000]

The damage would be the same, 10 banks lose $20 billion each or 1 bank loses $200 billion.

Why would 10 banks all lose 20 billion each if they are broken up and run separately? When a few banks control a lot more you are creating a much riskier situation because the decisions of fewer people have a much larger impact.

Do you feel that all banks didn't lose money during the crisis?

A single hedge fund, LTCM, nearly brought down the entire financial system in 1998. No smaller banks during that time caused any serious problems for the system.

We ignored that warning.

 

[RDD_1210]

That's not the point. The point is our economy had to suffer because of their recklessness, and that happened because they are too big to fail.

The point is, smaller banks losing $200 billion is just as damaging as one larger bank losing $200 billion.

This topic is WAY over your head if you can't understand even the simplest of concepts. Please lie down and rest.

There's another liberal who doesn't understand accounting or banking. Shocker.

You're liberal?

Never would have guessed it.

More liberal confusion. Very surprising.

If you're confused, just say so. I mean it's obvious you are, but it's ok. We can slow it down for you and maybe explain it with pictures if that helps.