Sanders promises Wall St crackdown if elected USA president

Wall Street reform is a signature issue for Warren, a consumer protection advocate who proposed and helped establish the Consumer Financial Protection Bureau in response to the 2008 financial crisis.

“Here is a New Year’s Resolution that we will keep: If Wall Street does not end their greed, we will end it for them”, he said in his speech.

“If Wall Street does not end its greed, we will end it for them”, he said, as a cheering audience jumped to its feet. But the attacks on Clinton marked an escalation in his offensive against the Democratic front-runner.

Clinton’s campaign tried to pre-empt Sanders speech on Monday afternoon, putting out a statement from a top aide arguing that Clinton’s financial regulation proposals would do more to crack down on industry abuses. “My opponent says that as senator she told bankers to “cut it out” and end their destructive behaviour”.

“We will not succeed as a nation unless tens of millions of people, many of whom have given up on the political process…who no longer have faith in Washington, many of whom no longer vote”, he said, “if we are not able to bring those people, working people, young people, low income people back into the political process, we will not be able to transform America and create a government that works for all of us”.

Sanders deadpanned, “Well, we are taking on the establishment, and I think it is fair to say I’m not the candidate of the establishment”. “I want to go after everybody who poses a risk to our financial system”.

LAS VEGAS (AP) — Hillary Clinton and Bernie Sanders battled for support among Nevada Democrats on Wednesday night, looking beyond the leadoff contests of Iowa and New Hampshire to a state that could play a pivotal role in the nomination fight.

Speaking in New York City yesterday, Sanders reiterated his support for Warren’s legislation to reinstate the Glass-Steagall Act, a 1933 statute that separated plain-vanilla commercial banks from riskier investment banks but was repealed under a bipartisan 1999 law signed by President Bill Clinton. Those firms would be forced to reorganize within a year.

Hillary Clinton, however, has said the White House needs to take a more moderate stance on preventing future financial calamity.

Mr Sanders also called for structural reforms to the Federal Reserve, making credit rating agencies non-profit entities, and a tax on speculative investments. “It is not the exception to the rule. “Not only will big banks not be too big to fail, but big-time bankers will not be too big to jail”. “While it makes for great political theater, there is zero chance of breaking up the large banks, ” Greg McBride, chief financial analyst at Bankrate.com, said.

“We’re not getting any cooperation from the Republicans, no matter how many horrific mass shootings we see”, Sanders said. He also said he would not put financial industry executives on the Fed’s presidentially-appointed board.

Clinton has endorsed an approach that would break up large banks that take excessive risks. “These are some of the words that best describe the reality of Wall Street today”, Sanders said.

During a stop in Council Bluffs, Iowa on Tuesday, Clinton offered her most blunt remarks to date about her ability to win the general election, saying voters should “think hard about the people who are presenting themselves to you, their experience, their qualifications, their positions, but particularly for those of us who are Democrats, their electability”.