Bernie Sanders Introduces New Plan to Break up Big Banks
- 6 years ago
Bernie Sanders Introduces New Plan
to Break up Big Banks The Vermont senator has introduced the ‘‘Too Big To Fail, Too Big To Exist Act." The legislation would cap the exposure of U.S. financial companies to no more than 3% of gross domestic product, or about $584 billion. By the bill's standards, several U.S. banks and other companies, like MetLife, would need to shrink their assets or break up. Sanders argues their individual sizes expose the
U.S. economy to too much risk. The legislation comes one day after Sanders took a victory lap after Amazon raised its minimum wage. However, his new bill is
extremely unlikely to move forward.
to Break up Big Banks The Vermont senator has introduced the ‘‘Too Big To Fail, Too Big To Exist Act." The legislation would cap the exposure of U.S. financial companies to no more than 3% of gross domestic product, or about $584 billion. By the bill's standards, several U.S. banks and other companies, like MetLife, would need to shrink their assets or break up. Sanders argues their individual sizes expose the
U.S. economy to too much risk. The legislation comes one day after Sanders took a victory lap after Amazon raised its minimum wage. However, his new bill is
extremely unlikely to move forward.