BANZAI7 NEWS--Senator Bernard Sanders, the Vermont independent, is taking aim at banks that are considered too big to fail. He introduced legislation on Friday that would force the Treasury Department to break up all financial institutions whose failure could cause a major disruption to the nation’s financial system.
“If an institution is too big to fail, it is too big to exist,” Mr. Sanders said in a statement. “We should end the concentration of ownership that has resulted in just four huge financial institutions holding half the mortgages in America, controlling two-thirds of the credit cards and amassing 40 percent of all deposits.”
The four banks cited by Mr. Sanders are Citigroup, Bank of America, Wells Fargo and JPMorgan Chase.
Anyone ever hear the word A-N-T-I-T-R-U-S-T?
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If they are broken up, it will be after they wasted the money re-branding themselves, a la Chase instead of WaMu, etc. Think of all the CO2 breathing trees that were cut down so every thing could be reprinted with the Chase logo on it. Times a few thousands.
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