When the gods dance...

Friday, May 18, 2012

CNN - Situation Room - Sen. Sanders: Time to break up banks

Bernie believes that at a time when the six largest financial institutions have assets worth $9 trillion, which is the equivalent of two-thirds of the GDP of the United States, and when the top six banks provide half of the mortgages in America and over two-thirds of the credit cards, it is clearly time to break them up.

Adding insult to injury, Jamie Dimon, the CEO of JP Morgan Chase who recently presided over a $2 billion “goof," sits on the Board of the New York Federal Reserve, which is charged with regulating the banks. Bernie will be introducing legislation next week to end this “fox guarding the hen house” situation.

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