8 years ago
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What Would Actually Happen If We Broke Up the Banks?
Every year, the Financial Stability Board publishes a global list of "systemically important banks"; Bernie Sanders believes these banks should not exist. Were anything to go wrong at Goldman Sachs, Bank of America, Wells Fargo or the like, it would be 2008 all over again, complete with government bailouts, a Tea Party resurgence and Occupy Everywheres. Breaking up these banks seems prudent.
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That's not a "but". That's an "and". We want many wealthy people. We want wealth. We just don't want it concentrated in fewer and fewer hands.