Bernie Sanders gave a major speech on reining in Wall Street on January 5. In it, he called for busting up the biggest banks and reinstating the Glass-Steagall Act.
Both of these steps are necessary to avoid another “too-big-to-fail” bailout, along with another crisis that robs millions of Americans of their jobs, homes, and savings. The only way to contain Wall Street’s excesses is with reforms so big, bold, and public they can’t be watered down.
Senator Sanders's full plan includes:
- Breaking up the big banks and financial institutions
- Reinstating a 21st Century Glass-Steagall Act to clearly separate traditional banking from risky investment banking and insurance services
- Ending too-big-to-jail -- so that Wall Street executives are prosecuted for causing the near collapse of our economy
- Establishing a tax on Wall Street to discourage reckless gambling and encourage productive investments in the job-creating economy
- Capping credit card interest rates and ATM fees
- Allowing Post Offices to offer banking services
- Reforming credit rating agencies
- Reforming the Federal Reserve
Join Robert Reich now and sign this petition in support of Bernie Sanders's plan to reform Wall Street.