Banks brace for Bernie Sanders

[babylonsister]

Banks brace for Bernie Sanders

By Kevin Cirilli - 05/12/15 06:00 AM EDT


Wall Street is worried that Sen. Bernie Sanders’s vigorous calls for banking industry reform will pull Hillary Clinton to the left, as the two presidential candidates battle for the 2016 Democratic nomination.

Sanders (I-Vt.) last week unveiled new legislation designed to break up the nation’s largest banks, declaring that “if an institution is too big to fail, it is too big to exist.”

Though it stands virtually no chance of passage in the GOP-controlled Congress, the bill has industry leaders fretting.

“The prospects of it becoming law are nil,” said one banking lobbyist, who described Sanders’s legislations as “shrill, bombastic and misaligned.”

“But we care about whether this impacts Hillary and whether she’ll try to pander to the far left.”

snip//

Despite the vocal opposition from the business community, Sanders’s ability to activate progressive outside groups could mean he may be able to move Clinton to the left — even if, as conventional wisdom says, he poses no real threat to the former secretary of State’s eventual nomination.

Sanders’s rhetoric signals that, seven years after the 2008 economic collapse, progressives still see tapping into anger about the taxpayer bailouts to big banks as a winning political strategy.

more...

http://thehill.com/policy/finance/banking-financial-institutions/241693-banks-brace-for-bernie

[Erich Bloodaxe BSN]

1. 'pander to the far left'.

So they know it would only be a 'pander' if something came out of it from her campaign. I hope the electorate figure that out quickly as well.