Sanders vowing to break up banks during first year in office
By The Associated Press
WASHINGTON (AP) -
Democratic presidential candidate Bernie Sanders will pledge to break up the country's largest financial institutions within the first year of his administration should he win the White House next November. He planned to make that pledge in a speech in New York on Tuesday afternoon.
In a rare policy address detailing his financial regulation plans, Sanders will vow to create a "too-big-to-fail" list of companies within the first 100 days of his administration. The policy will say the failure of those cited in this category would pose a grave risk to the U.S. economy without a taxpayer bailout. That's according to aides familiar with his plans. Sanders would force the banks and insurance companies to reorganize within a year.