Bernie Sanders: The solution: The major Wall Street banks must be broken up....

[ozone_man]

135. Don't forget that it was Clinton who signed the bill

to eliminate Glass-Steagall, so let's not blame the Republicans:

President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate."

http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Legislation

Bernie Sanders is not saying much that is different than Paul Krugman was in 2009. Krugman has changed his tune now, though there was a time when he did not appear to be a lacky for this administration and Wall Street:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4Tl65kFU96s

Feb. 2 (Bloomberg) -- President Barack Obama shouldn’t hesitate to nationalize the banks that need to be bailed out, Nobel Prize-winning economist Paul Krugman said.

“If taxpayers are footing the bill for rescuing the banks, why shouldn’t they get ownership, at least until private buyers can be found?” Krugman wrote in a column in the New York Times published today. “But the Obama administration appears to be tying itself in knots to avoid this outcome.”

His remarks echo those of Nassim Nicholas Taleb and Nouriel Roubini, who said last week that nationalizations will be necessary to bring the U.S. banking system out of insolvency. Obama will require banks to bolster lending in return for government aid, lawmaker Barney Frank said yesterday, stopping short of taking full ownership.

Krugman said the U.S. government’s rescue plan appears to put banking risk with taxpayers when loans go bad while giving the rewards to executives and shareholders when things go well. He cited newspaper reports that Obama’s rescue plan will include government purchases of troubled bank assets and guarantees against losses.