How Bernie Sanders Could Break Up the Big Wall Street Banks

[JimBowie1958]

I have seen several shows on the boobtube where people ask how does Sanders think he can break up Big Banks, and there are a multitude of ways to do it that dont fit a 5 second sound bite.

It is very doable folks and I dont see what the point is of asking him so often how he plans to do it.

1. Pressure the banks directors to break up the banks themselves. "OR else I'll do it and you wont like how I do it..."

2. Via the Federal Reserve; Appoint people to the seven member Board of Governors who would then vote that Bank of America was 'a grave threat to financial stability of the United States.' ...could take a few yers.

3. Get Congress to pass some new laws to enable it.

4. Sherman Anti-trust Act

5. Through Executive Order as justified under previous Presidents, for example Obama's "Executive Order -- National Defense Resources Preparedness" which states:
Section 103
(b) assess on an ongoing basis the capability of the domestic industrial and technological base to satisfy requirements in peacetime and times of national emergency, specifically evaluating the availability of the most critical resource and production sources, including subcontractors and suppliers, materials, skilled labor, and professional and technical personnel;

(c) be prepared, in the event of a potential threat to the security of the United States, to take actions necessary to ensure the availability of adequate resources and production capability, including services and critical technology, for national defense requirements;...
Section 200
(d) The Secretary of Commerce, in cooperation with the Secretary of Defense, the Secretary of Homeland Security, and other agencies, shall:

(1) analyze potential effects of national emergencies on actual production capability, taking into account the entire production system, including shortages of resources, and develop recommended preparedness measures to strengthen capabilities for production increases in national emergencies; and

(2) perform industry analyses to assess capabilities of the industrial base to support the national defense, and develop policy recommendations to improve the international competitiveness of specific domestic industries and their abilities to meet national defense program needs.....

Section 201 (e) The Secretary of each resource department, when necessary, shall make the finding required under section 101(b) of the Act, 50 U.S.C. App. 2071(b). This finding shall be submitted for the President's approval through the Assistant to the President and National Security Advisor and the Assistant to the President for Homeland Security and Counterterrorism. Upon such approval, the Secretary of the resource department that made the finding may use the authority of section 101(a) of the Act, 50 U.S.C. App. 2071(a), to control the general distribution of any material (including applicable services) in the civilian market....

Section 301 Loan Guarantees (c) Terms and conditions of guarantees under this authority shall be determined in consultation with the Secretary of the Treasury and the Director of the Office of Management and Budget (OMB). The guaranteeing agency is authorized, following such consultation, to prescribe: (1) either specifically or by maximum limits or otherwise, rates of interest, guarantee and commitment fees, and other charges which may be made in connection with such guarantee contracts; and (2) regulations governing the forms and procedures (which shall be uniform to the extent practicable) to be utilized in connection therewith....


A good set of lawyers could drive a 747 through that EO.

How does a president break up a big bank?

Dallas Fed president: Break up the biggest banks globally

The Fed’s Newest President Wants to Break Up the Big Banks, and Bernie Sanders Is Thrilled

St. Louis Fed President: Break Up the Banks - Shadowproof

Break Up the Big Banks - NYTimes.com

 

[Avatar4321]

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

 

[jwoodie]

Bernie is popular because he is perceived as being harmless.

 

[bendog]

Bernie is popular because he is perceived as being harmless.

Only by fools.

 

[JimBowie1958]

Bernie is popular because he is perceived as being harmless.

Only by fools.

Why?

I consider him harmless to everyone but Hillary, lol.

 

[Dont Taz Me Bro]

Bernie is popular because he is perceived as being harmless.

Only by fools.

Which describes most of the country

 

[Dont Taz Me Bro]

The size of the banks is not the issue

 

[BluesLegend]

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

Most people don't get it, its the politicians corrupting business not the other way around.

 

[JimBowie1958]

The size of the banks is not the issue

How is that when 'Too BIG to Fail' is the whole point?

 

[JimBowie1958]

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

Most people don't get it, its the politicians corrupting business not the other way around.

Yeah, because politicians are going to bankers and businessmen and saying, 'How would you like a free trip to the Bahamas?'

roflmao

 

[Dot Com]

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

ummm..... because the too big to fail banks of 2008 are even bigger now since they acquired the banks that failed? You like taxpayer-financed bailouts eh?

They need to be broken-up to the size that their failure wont bring down the entire economy like it came perilously close to doing in '08

 

[Dot Com]

The size of the banks is not the issue

How is that when 'Too BIG to Fail' is the whole point?

Yeah DTMB

 

[JimBowie1958]

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

ummm..... because the too big to fail banks of 2008 are even bigger now since they acquired the banks that failed? You like taxpayer-financed bailouts eh?

They need to be broken-up to the size that their failure wont bring down the entire economy like it came perilously close to doing in '08

Excellent summation; when they dont need $4 trillion to keep our economy afloat then they cease to be a threat to our national security.

 

[thereisnospoon]

The size of the banks is not the issue

Bingo!!!
Banks should have to separate their normal banking operations from their investment divisions and establish them as separate entities. The consumer and business sides should also be separate entities.

 

[RandallFlagg]

I have seen several shows on the boobtube where people ask how does Sanders think he can break up Big Banks, and there are a multitude of ways to do it that dont fit a 5 second sound bite.

It is very doable folks and I dont see what the point is of asking him so often how he plans to do it.

1. Pressure the banks directors to break up the banks themselves. "OR else I'll do it and you wont like how I do it..."

2. Via the Federal Reserve; Appoint people to the seven member Board of Governors who would then vote that Bank of America was 'a grave threat to financial stability of the United States.' ...could take a few yers.

3. Get Congress to pass some new laws to enable it.

4. Sherman Anti-trust Act

5. Through Executive Order as justified under previous Presidents, for example Obama's "Executive Order -- National Defense Resources Preparedness" which states:
Section 103
(b) assess on an ongoing basis the capability of the domestic industrial and technological base to satisfy requirements in peacetime and times of national emergency, specifically evaluating the availability of the most critical resource and production sources, including subcontractors and suppliers, materials, skilled labor, and professional and technical personnel;

(c) be prepared, in the event of a potential threat to the security of the United States, to take actions necessary to ensure the availability of adequate resources and production capability, including services and critical technology, for national defense requirements;...
Section 200
(d) The Secretary of Commerce, in cooperation with the Secretary of Defense, the Secretary of Homeland Security, and other agencies, shall:

(1) analyze potential effects of national emergencies on actual production capability, taking into account the entire production system, including shortages of resources, and develop recommended preparedness measures to strengthen capabilities for production increases in national emergencies; and

(2) perform industry analyses to assess capabilities of the industrial base to support the national defense, and develop policy recommendations to improve the international competitiveness of specific domestic industries and their abilities to meet national defense program needs.....

Section 201 (e) The Secretary of each resource department, when necessary, shall make the finding required under section 101(b) of the Act, 50 U.S.C. App. 2071(b). This finding shall be submitted for the President's approval through the Assistant to the President and National Security Advisor and the Assistant to the President for Homeland Security and Counterterrorism. Upon such approval, the Secretary of the resource department that made the finding may use the authority of section 101(a) of the Act, 50 U.S.C. App. 2071(a), to control the general distribution of any material (including applicable services) in the civilian market....

Section 301 Loan Guarantees (c) Terms and conditions of guarantees under this authority shall be determined in consultation with the Secretary of the Treasury and the Director of the Office of Management and Budget (OMB). The guaranteeing agency is authorized, following such consultation, to prescribe: (1) either specifically or by maximum limits or otherwise, rates of interest, guarantee and commitment fees, and other charges which may be made in connection with such guarantee contracts; and (2) regulations governing the forms and procedures (which shall be uniform to the extent practicable) to be utilized in connection therewith....


A good set of lawyers could drive a 747 through that EO.

How does a president break up a big bank?





Dallas Fed president: Break up the biggest banks globally

The Fed’s Newest President Wants to Break Up the Big Banks, and Bernie Sanders Is Thrilled

St. Louis Fed President: Break Up the Banks - Shadowproof

Break Up the Big Banks - NYTimes.com

Bullshit. Bullshit. Bullshit. I can see the lawsuits already flying. Telling banks that have to "break up" in a Capitalist society. Yep. The insanity is running wild...unicorns and rainbows.

 

[RandallFlagg]

The size of the banks is not the issue

How is that when 'Too BIG to Fail' is the whole point?

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

ummm..... because the too big to fail banks of 2008 are even bigger now since they acquired the banks that failed? You like taxpayer-financed bailouts eh?

They need to be broken-up to the size that their failure wont bring down the entire economy like it came perilously close to doing in '08

Excellent summation; when they dont need $4 trillion to keep our economy afloat then they cease to be a threat to our national security.

Well, let's ask George Bush and Barack Obama why they bailed out the banks, shall we?

 

[Political Junky]

Even poor folks who are Right Wing support big banks, big pharma, big oil, none of which do a damn thing for them.

 

[Dot Com]

The size of the banks is not the issue

How is that when 'Too BIG to Fail' is the whole point?

Why do we want the government screwing with the banks or any other private industry? Haven't we screwed our economy enough?

ummm..... because the too big to fail banks of 2008 are even bigger now since they acquired the banks that failed? You like taxpayer-financed bailouts eh?

They need to be broken-up to the size that their failure wont bring down the entire economy like it came perilously close to doing in '08

Excellent summation; when they dont need $4 trillion to keep our economy afloat then they cease to be a threat to our national security.

Well, let's ask George Bush and Barack Obama why they bailed out the banks, shall we?

ummm..... because they were too big to fail you moron. That why breaking them up is needed so they never have this great nation over a barrel again

 

[Dot Com]

Even poor folks who are Right Wing support big banks, big pharma, big oil, none of which do a damn thing for them.

why do rw'ers love monopolies is a good question.

 

[Dont Taz Me Bro]

I work for one of the largest banks in the country. It's always amusing to listen to you people opine on this subject when you have no understanding of banking operations and finance.