2016 Postmortem

Sancho

(9,206 posts)

25. Bernie's plan doesn't make sense - the biggest banks are not in the US!!!

Tue Apr 5, 2016, 06:45 AM

Apr 2016

US law has no effect on them. Bernie is selling snake oil.

Breaking up US banks would do nothing. Closing tax loopholes might help. Most big banks are not in the US, and most influential money is not in the US. The US can't "break up" international banks, and without Congress cannot change the possibility of "influence".

https://en.wikipedia.org/wiki/List_of_largest_banks

1 China Industrial & Commercial Bank of China (ICBC)
2 China China Construction Bank Corporation
3 United Kingdom HSBC Holdings
4 China Agricultural Bank of China
5 United States JPMorgan Chase & Co.
6 France BNP Paribas
7 China Bank of China
8 Japan Mitsubishi UFJ Financial Group
9 France Crédit Agricole Group
10 United Kingdom Barclays PLC
11 United States Bank of America
12 Germany Deutsche Bank
13 United States Citigroup Inc
14 Japan Japan Post Bank
15 United States Wells Fargo
16 Japan Mizuho Financial Group
17 United Kingdom Royal Bank of Scotland Group
18 China China Development Bank
19 France Société Générale
20 Spain Banco Santander

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"How do you go about [breaking up too-big banks]?" Bernie: "I don't know...I have not studied..." [View all] KitSileya Apr 2016 OP

It was never a real proposal, but it polls well Recursion Apr 2016 #1

But it's one of the pillars of his platform. KitSileya Apr 2016 #2

It's 2016; that's what people want Recursion Apr 2016 #13

I'm thinking they want someone to validate their anger and speak to what scares them not change it uponit7771 Apr 2016 #52

I think that's exactly right Recursion Apr 2016 #53

who is that in your picture there? wendylaroux Apr 2016 #179

I believe that your post is full of nonsense. thesquanderer Apr 2016 #58

Stellar Reply inchhigh Apr 2016 #65

He stated three different understandings of what could be done about breaking up the banks Arneoker Apr 2016 #190

Thread winner!! Scuba Apr 2016 #67

Except he thinks the President can tell the federal reserve what to do. geek tragedy Apr 2016 #70

Don't look now, but bvf Apr 2016 #91

So, the largest breakup of a too-big-to-fail bank to date Recursion Apr 2016 #85

Did you mean to post that to someone else? thesquanderer Apr 2016 #92

No, I was calling out your nonsense Recursion Apr 2016 #94

It seems like you're not reading. thesquanderer Apr 2016 #99

Yes, it actually *is* a bank, since 2010 or so. Did you not know that? Recursion Apr 2016 #101

No, it is not a bank, as of 2013. Did you not know that? thesquanderer Apr 2016 #105

Read your own article: that was the result of this decision being adjudicated Recursion Apr 2016 #148

The case that Met Life just won was filed in 2015. After they were no longer a bank. thesquanderer Apr 2016 #169

Incredible replies in this thread. Bravo. JonLeibowitz Apr 2016 #205

It's worth noting bvf Apr 2016 #93

Mine was cogent Recursion Apr 2016 #95

That isn't the central pillar of his campaign kristopher Apr 2016 #129

Nope, I'm a Sanders supporter. I voted for him, not Clinton. Recursion Apr 2016 #133

Sure. All Sanders supporters spend 100% of their time trashing him. kristopher Apr 2016 #139

More should. More Clinton supporters should criticize Clinton Recursion Apr 2016 #141

Translation - Go Hillary! kristopher Apr 2016 #143

Post removed Post removed Apr 2016 #144

Sanders has been 100% consistent in his positions for 40 years. kristopher Apr 2016 #159

Who the hell holds a single view for 40 years? That in itself is troubling Recursion Apr 2016 #164

Someone who's been right to begin with bvf Apr 2016 #188

most are clueless SoLeftIAmRight Apr 2016 #215

This reply should be an OP rosesaylavee Apr 2016 #210

No person can be an expert in every field. Bernie may not know much about banking. Cal33 Apr 2016 #71

He's not just not an expert kennetha Apr 2016 #160

So like Trumpo the Clown Arneoker Apr 2016 #192

I guarantee you, he knows all about it, HE IS JUST BEING WAY TOO NICE TO CLINTON BY NOT BRINGING IT Baobab Apr 2016 #183

Yeap, good marketing for mostly non PoC votes. uponit7771 Apr 2016 #28

Pretty much, yeah: he's trying to sell white workers on going back to the economics of the 1960s Recursion Apr 2016 #41

+1, I said before that he's alarming on economic insecurity doesn't work with those who are already uponit7771 Apr 2016 #46

And I'm still cynical enough to vote for that Recursion Apr 2016 #50

Do you think Roosevelt knew all the ins and outs of the 'banking holiday?' Or... Human101948 Apr 2016 #56

Yeah, in fact, I think FDR knew what he was actually talking about Recursion Apr 2016 #59

You have zero evidence to support your argument... Human101948 Apr 2016 #73

"Break up the banks, says Minneapolis Fed chief" think Apr 2016 #96

And I'd ask what he means too Recursion Apr 2016 #100

Bernie knows this is a complex subject and it's not easy to describe. You're posts in this thread think Apr 2016 #102

They do: This is a complex subject, and if Sanders agrees with that he should treat it that way Recursion Apr 2016 #103

Please do go lobby for O'Malley. Maybe you'll quit spreading so much FUD about Sanders then.... think Apr 2016 #106

You just lack vision DemocratSinceBirth Apr 2016 #107

So, a man can basically make stuff up that he thinks people will "love", and that's okay? George II Apr 2016 #111

here is what you need to do- back out of the Whirled Trad e org. which Pres. Clinton signed in 1994 Baobab Apr 2016 #180

in other words it was bullshit. no big ohheckyeah Apr 2016 #186

Holy crap. Maru Kitteh Apr 2016 #3

The whole interview is very interesting. KitSileya Apr 2016 #4

This surprised me; he's usually much better at avoiding this Recursion Apr 2016 #43

I think that may be right BeyondGeography Apr 2016 #61

I was surprised by how detailed the questioning was. DemocratSinceBirth Apr 2016 #108

Very impressed...Now I'm interested in seeing the HRC interview BeyondGeography Apr 2016 #134

It seemed more like a deposition. DemocratSinceBirth Apr 2016 #137

He was probably shocked BeyondGeography Apr 2016 #145

Do you think the Post will endorse Bernie? DemocratSinceBirth Apr 2016 #156

Haha...was thinking about that this AM BeyondGeography Apr 2016 #161

I hope they do. DemocratSinceBirth Apr 2016 #162

If he can't answer that question in his sleep geek tragedy Apr 2016 #69

Literally until today I would have argued against that Recursion Apr 2016 #74

Obvious question is: was he ever more than a protest candidate? geek tragedy Apr 2016 #76

Oh people are very, very good at convincing themselves of things Recursion Apr 2016 #78

He wants to win, but does he really want the job? geek tragedy Apr 2016 #81

Fair point. Just like 99% of his supporters don't actually want him to govern, I guess Recursion Apr 2016 #82

Totally Agree with you kennetha Apr 2016 #158

No that isn't what his campaign is premised on. kristopher Apr 2016 #132

Again, I have no idea why lying about my primary vote makes you feel better Recursion Apr 2016 #135

It isn't a mystery; it is self evident kristopher Apr 2016 #142

NO HE SETS GOALS...and if elected will hire highly capable experts to carry them out. Armstead Apr 2016 #138

What? He won't even name his goals here Recursion Apr 2016 #140

He mentions his goals all the time. Armstead Apr 2016 #147

Yeah I need more than that Recursion Apr 2016 #149

I haven't time for circular arguments Armstead Apr 2016 #151

Well, it's not. He's got my vote, as the lesser evil, but I don't trust the man whatsoever Recursion Apr 2016 #154

Just like Donald Trump? kennetha Apr 2016 #163

NO just like he did as Mayor of Burlington Armstead Apr 2016 #167

Does Bernie have to know how to make gasoline if he wants to fill up his car too? Bonobo Apr 2016 #5

He hasn't studied the issue. He doesn't know the current situation. KitSileya Apr 2016 #6

Respectfully, you really have no idea what he knows or does not know. Bonobo Apr 2016 #8

I go by what he says. He says he hasn't studied it as an answer to a direct question. KitSileya Apr 2016 #10

Your OP was filled with a comedic level of bolding to give a false impression. nt Bonobo Apr 2016 #11

I bolded to make it easier to see what supported my opinion. KitSileya Apr 2016 #12

Banks are institutions. They can be broken up. Bonobo Apr 2016 #14

Yes, but you can see that isn't what this is. He literally has no idea what "break up the banks" Recursion Apr 2016 #16

He has a will to break up banks. That is enough for me at present. nt Bonobo Apr 2016 #21

And Donald Trump has a will to build a wall and keep all muslims out kennetha Apr 2016 #165

he knows who to hire and how to get things done Armstead Apr 2016 #146

And Trumpo has built hotels Arneoker Apr 2016 #194

Apples and oranges Armstead Apr 2016 #197

He said he didn't know... wtf?! uponit7771 Apr 2016 #48

In fairness he's been much better at dodging this question until now Recursion Apr 2016 #51

I know it. This is a gotcha OP. If Bernie layed out a 99% complete plan they would rip on him for GoneFishin Apr 2016 #26

There's nothing gotcha about a " what's your plan" question that he's had more than a year to form uponit7771 Apr 2016 #38

FFS wake up. He was asked what a "broken up" banking sector would look like Recursion Apr 2016 #55

Seriously? Asking him to clarify the details of his signature slogan is no more of a "gotcha" Tanuki Apr 2016 #86

LOL treestar Apr 2016 #87

Like Sarah Palins gotcha questions? He should do better redstateblues Apr 2016 #128

Yes, this is a gotcha OP in as much as no response will satisfy those whose only goal is to smear. GoneFishin Apr 2016 #168

So when it comes to specifics he'll just give it to someone else like Trump?! Really?!.. sigh SMFH uponit7771 Apr 2016 #29

It is very bad for a candidate when you treestar Apr 2016 #77

, what happened with Metropolitan Life?? Who are they? Should he have studied them? Joob Apr 2016 #7

Met life is an insurance company that was deemed too big to fail. KitSileya Apr 2016 #9

Thank you for this, Kit! Cha Apr 2016 #15

OK, so Bernie needs to formulate a plan. But monopolies have been broken up before... reformist2 Apr 2016 #17

Bernie's had a freakin year to formulate a plan!! He's not serious about "revolution" uponit7771 Apr 2016 #31

Please read these. Like him or not, he know how to get things done. Armstead Apr 2016 #150

Thanks for this post. murielm99 Apr 2016 #18

It�s been done before and coyote Apr 2016 #19

Its been done before with people who know what they're doing, not someone who has no plan uponit7771 Apr 2016 #32

All you need is a posse and some baseball bats nt firebrand80 Apr 2016 #20

Don't forget the podium bird, need that guy to peck em to death uponit7771 Apr 2016 #34

kicking this important post rbrnmw Apr 2016 #22

That could be where VP Warren steps in. n/t woodsprite Apr 2016 #23

That's what I'm thinking. Eom Karma13612 Apr 2016 #24

Put down the pipe .... salinsky Apr 2016 #35

Who knows that the biggest banks aren't even in the US and wouldn't have stopped the 08 crash uponit7771 Apr 2016 #39

Why would she want that job? treestar Apr 2016 #84

Bernie's plan doesn't make sense - the biggest banks are not in the US!!! Sancho Apr 2016 #25

Those aren't the banks that brought the USA to its knees in 2007. bvar22 Apr 2016 #184

MORE PROOF!! Sanders is NOT ... NOT serious about "revolution" one bit uponit7771 Apr 2016 #27

I read this last night. It's shocking. It's not that he hasn't had plenty of time to study up on seaglass Apr 2016 #30

A little memorized blather on the issue should put the bedwetters at ease. reformist2 Apr 2016 #40

Clearly it is true that there are many who are not interested in details, they are mostly seaglass Apr 2016 #47

It's not "shocking" to me at least; I've never thought there was a "there" there with Sanders Recursion Apr 2016 #57

Put it this way. I read his College for All bill and though there are many questions and the seaglass Apr 2016 #66

Sounds like he would hit the ground walking in circles BeyondGeography Apr 2016 #33

Not ready for prime time .... salinsky Apr 2016 #36

Yeah--they Feeeeeeeeeeeel the Berrrrrrrrrrrrn! We will all end being Bernt toast! riversedge Apr 2016 #45

We'll all be Bern victims uponit7771 Apr 2016 #54

Sanders panders to those looking for an easy fix. He doesn't have a magic wand. Trust Buster Apr 2016 #37

But they have a podium bird ... uponit7771 Apr 2016 #42

Not surprised. Sanders has,all along been vague about HOW to accomplish his goals-like the riversedge Apr 2016 #44

It's not even that; here Sanders isn't even clear what the goal is Recursion Apr 2016 #49

He should not be president. He can't do the job geek tragedy Apr 2016 #60

Except he isn't saying that inchhigh Apr 2016 #62

Bernie Sanders is a fraud CalvinballPro Apr 2016 #63

Right on cue . . . the slur du jour! Thanks. The others have gotten so boring. Vinca Apr 2016 #64

His own words are a slur? athena Apr 2016 #125

obama should have broken them up. wendylaroux Apr 2016 #176

He's a fraud. Thankfully he will never be President. He doesn't have the livetohike Apr 2016 #68

Post removed Post removed Apr 2016 #170

It is stunning treestar Apr 2016 #72

It is not just stunning but devastating Recursion Apr 2016 #75

So basically, he doesn't know how to ride his one-trick-pony of an issue? Tarc Apr 2016 #79

Well, to me that is at least surprising, because I thought he *did* know how to ride it Recursion Apr 2016 #80

Really? Here is Hillary offering a pile of false bullshit about basic history she lived through: Bluenorthwest Apr 2016 #116

What does Clinton have to do with this? I didn't vote for her Recursion Apr 2016 #117

Uh, Presidential candidates who can't answer simple questions is the category Alex. Bluenorthwest Apr 2016 #121

Which is why I'm not a Clinton supporter Recursion Apr 2016 #122

Because it's easier than answering the real question. nt WhiteTara Apr 2016 #171

+1 uponit7771 Apr 2016 #172

It's a talking point that tests well and that's about it. ucrdem Apr 2016 #83

You think you're sly Perogie Apr 2016 #88

Isn't that one of his main proposals? mcar Apr 2016 #89

And now a musical interlude... LuvLoogie Apr 2016 #90

He's as much a snake oil salesman as Cruz. beaglelover Apr 2016 #97

And this is one of the biggest problems I have with him. His ideas are great! ecstatic Apr 2016 #98

Earlier on he was asked what the first change he would make would be Recursion Apr 2016 #104

"Wait until people get to know him" George II Apr 2016 #109

truly bizarre bigtree Apr 2016 #110

K&R. nt UtahLib Apr 2016 #112

What B.S. Bernie is smart enough to bring together a smart team to put together a plan. n/t Skwmom Apr 2016 #113

OMG! No ideas on how financial institutions work. What powers the president has. Laser102 Apr 2016 #114

He can push to reinstate Glass-Steagall My Good Babushka Apr 2016 #115

ah .... good ole Ma Bell .... memories Hiraeth Apr 2016 #155

Secretary of Treasury Elizabeth Warren could make it happen. lagomorph777 Apr 2016 #118

The lack of knowledge is stunning KingFlorez Apr 2016 #119

This interview is devastating. athena Apr 2016 #120

MY God he doesn't remember the details of a subway ride, Can Clinton even drive a damn car? Armstead Apr 2016 #127

Details? athena Apr 2016 #130

Well Sanders just lost my vote Armstead Apr 2016 #131

So, straight-up lies don't lose your vote? (nt) Recursion Apr 2016 #152

yes,that's why I voted for Sanders. nt wendylaroux Apr 2016 #181

Like he really has a reason to lie about riding a subway. Jeeze Louise Armstead Apr 2016 #204

As a Bernie supporter this is somewhat disturbing. HOWEVER, it is early, and it is something Fast Walker 52 Apr 2016 #123

This is his main issue. athena Apr 2016 #124

It's not his "main issue". It's one of about 10 issues that he has pushed Fast Walker 52 Apr 2016 #175

Bernie is not ready for prime time redstateblues Apr 2016 #126

He's a prime time demagogue. kennetha Apr 2016 #166

you're a disgusting troll wendylaroux Apr 2016 #177

If elected he will do what he did in Burlington. Hire the best experts. Armstead Apr 2016 #136

Trump is saying the same thing!!!! Not ready for prime time at all uponit7771 Apr 2016 #173

It's no worry AgerolanAmerican Apr 2016 #153

Rainbows and unicorns for everybody! workinclasszero Apr 2016 #157

Grueul and stale bread for everybody Armstead Apr 2016 #202

I can safely predict that Hillary Clinton will get the Daily News' endorsement brooklynite Apr 2016 #174

Does it matter how their lines of business CanadaexPat Apr 2016 #178

Recognizing a Problem is the first step. Hillary Ferd Berfel Apr 2016 #182

How Much Does Bernie Sanders Know About Policy? Gothmog Apr 2016 #185

Unlike Clinton who doesn't give a rats ass about the issue Armstead Apr 2016 #201

9 things Bernie Sanders should�ve known about but didn�t in that Daily News interview Gothmog Apr 2016 #207

He's talking about what matters that Democrats have avoided for years Armstead Apr 2016 #209

Actually, Bernie is correct Carolator Apr 2016 #187

No he's not, he's wrong not to have any idea by now uponit7771 Apr 2016 #193

Well, that's like Carolator Apr 2016 #196

A closed mind is a terrible thing to waste Armstead Apr 2016 #200

Anyone interested in reading this interview without cut an paste food fighting can go here... MrMickeysMom Apr 2016 #189

And, while you're at it... MrMickeysMom Apr 2016 #195

Some people would have a hard time with Dick and Jane Armstead Apr 2016 #199

Yes, Bernie Sanders Knows Something About Breaking Up Banks - NY Times Nanjeanne Apr 2016 #191

Clinton -- "Things are just ducky as they are. No need to change anything." Armstead Apr 2016 #198

He hasn't a clue how to do this stuff. Agnosticsherbet Apr 2016 #203

Someone admitting they need to do research felix_numinous Apr 2016 #206

Start studying BS. Cha Apr 2016 #208

Beats "Cut it out" libdem4life Apr 2016 #211

audio + transcript elleng Apr 2016 #212

KNR Lucinda Apr 2016 #213

"I don't know" What the ever loving hell?? Number23 Apr 2016 #214

That interview is something else BainsBane Apr 2016 #216

YUP. Historic NY Apr 2016 #217