Sanders Speaks: Bernie Wants to Break Up the Big Banks

No sooner had the infamous “Citigroup amendment” been added to a vital spending measure than the warnings began. One of the first was from Rob Blackwell, writing in American Banker, who called it “a victory that may soon come to haunt the largest institutions.” Those may prove to be prophetic words, although perhaps not “soon” enough, especially if leading progressives like Sen. Bernie Sanders prevail.

Sanders’ website announced on Saturday that the Vermont independent “will introduce legislation to break up Wall Street megabanks that are using a bill before the Senate this weekend to put taxpayers on the hook for the banks’ risky investments.”