December 28, 2015

Sanders would throw bankers off the Feb

Guardian - Democratic presidential contender Bernie Sanders warned that if he wins the White House he will “fix” the Federal Reserve by throwing bankers off its boards and increasing transparency and regulation as a way of reining in Wall Street.

“Wall Street is still out of control,” he said ...

He pointed out that most of the country’s leading financial institutions are larger now than they were during the 2008 economic catastrophe when some had to be bailed out by the government, in order to prevent global financial meltdown, because they were deemed “too big to fail”.

The Fed, which, Sanders said, oversees those institutions and uses monetary policy to promote price stability and rising employment, “has been hijacked by the very bankers it regulates”.

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