General Discussion
In reply to the discussion: Bernie Sanders: The solution: The major Wall Street banks must be broken up.... [View all]appalachiablue
(44,029 posts)The momentum for banking reform and breakup even among financial elites post 2008 Burndown was a lost opportunity even though Sanders and others tried, obviously. PBS's 2009 Frontline program, 'The Warning' about Brooksley Born and HBO's 2010 film 'Too Big to Fail' helped expose matters to many. Citibank's Sandy Weill with the 4' plaque in his office about repeal of Glass-Steagall even spoke about restoring the legislation, or partially around 2012. On DU I learned that Bob Rubin and others plans for financial deregulation fait accompli went back to 1995 at least. He made out just in time to avoid most of the big heat. There's a good online clip of Warren explaining the reality of the crisis to a CNBC shill, and a video of Bernie blasting Greenspan in 2003 in Congress. The hope that these two, Sanders and Warren and others provide will strengthen. Another crash is certain at this rate and the effects will be devastating for many. If this is what it takes to get reform as many believe the cost will be very high.