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An independent U.S. senator on Friday introduced a bill that would give the government the power to identify and break up financial firms that are "too big to fail," an idea that is catching on. In Canada, over-leveraging is discouraged. Full Article at MyDD
Related Articles
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Nov. 6 (Bloomberg) -- U.S. Senator Bernie Sanders introduced legislation that would require Treasury Secretary Timothy Geithner to identify banks whose collapse could shake the economy and then break up the firms within a year. Full Article at Bloomberg.com
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Senator Bernard Sanders, the Vermont independent, is taking at aim banks that are considered too big to fail. Full Article at Dealbook
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WASHINGTON (Reuters) - Senator Bernie Sanders on Friday introduced legislation that would make the U.S. Treasury Department identify and break up financial institutions that are "too big to fail." Full Article at ABC News
Related Quotes
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It's the natural action of capital to grow and exceed. Now we're going to contain it
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If an institution is too big to fail, it is too big to exist ... We should break them up so they are no longer in a position to bring down the entire economy.
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It is insane that we import $350 billion worth of oil a year from foreign countries ... Our challenge is to move toward energy independence and energy efficiency and sustainable energy by substantially reducing greenhouse emissions and, in the process, creating millions of good-paying jobs.
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If an institution is too big to fail, it is too big to exist ... We should end the concentration of ownership that has resulted in just four huge financial institutions holding half the mortgages in America, controlling two-thirds of the credit cards and amassing 40 percent of all deposits.
