Who's Afraid of Senator Bernie Sanders?

by Derek Loosvelt | April 26, 2010

Wall Street, perhaps.

The independent, socialist Senator from Vermont tells the New York Times that the four biggest banks in the U.S. (BofA, Wells Fargo, JPMorgan and Citi) must be broken up; that banks most definitely should not have the right to "do credit default swaps and bet on whether oil prices are going to go up or down" with FDIC-backing; that more transparency at the Federal Reserve is needed; that the "SEC's charges against Goldman Sachs are only the beginning"; and that "the political outcome will be that the credibility of Wall Street will be zero."

He adds that "what [Wall Street has] done is take any action that they possibly can, legal or illegal, reckless or not, in order to make a quick buck. The damage that they have done to our economy and the world economy is incredible."

It's hard to argue with that.

Filed Under: Finance


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