Bernie has it right in trying to curb the enormous power of the banking establishment. As I’ve said many times, “Whoever controls the creation of money and the allocation of credit controls everything.” Bernie doesn’t go quite far enough but what he proposes is a good start. A recent article, Curbing the Influence of Big Banks: 3 Reforms proposed by Sanders, by Deena Zaidi outlines the Sanders plan:
- Break up the big banks so that no bank is “too big to fail.”
- Reinstating the Glass-Steagall Act which for decades prevented “investment banks” from combining with “commercial banks.”
- Reducing conflicts of interest at the Fed.
Read the full article here.