Bernie Sanders Says Banks Are Too Big To Fail Because Their CEOs Are ‘Too Big To Jail’

by  –

Bernie Sanders

In 2013, as the United States recession was cooling and hope seemed to be coming back into the minds of Americans, their attitudes towards the ‘too big to fail’ and ‘too big to jail’ CEOs were still at a boil. And rightfully so. In a Reuter’s poll, in which 1,400 Americans were surveyed, fifty-three percent thought that not enough was done to prosecute bankers for their role in the financial crisis while 15 percent were satisfied with basically getting no indictments.

That was in 2013, and since then, things have gotten better. But make no mistake, Senator Bernie Sanders (I-VT) has no problem reminding us of the cold hard truth that Americans thought in 2013: the reason we were in this mess in the first place was because banks are too big to fail. And why is that? Because their CEOs are too big to jail.

Speaking to the Commonwealth Club in San Francisco, Senator Sanders expressed his outrage that “banks are too big to fail [and] their CEO’s are too big to jail” and that a mere 14 people in America saw their wealth balloon by $157 billion in two years while 45 million Americans, almost 15% of the country, live in poverty and struggle to make ends meet.

Sanders also railed against the Koch brothers and their increasing influence on American politics which he says will overtake the Democratic and Republican Party:

“The Koch family now arguably has  — or soon will have — more political power than either the Democratic of Republican parties. We believe they will spend more money this cycle than either the Democratic or Republican parties.”

The populist Senator also called on a federal Constitutional amendment to overturn Citizens United:

“If we don’t overturn Citizens United, a handful of billionaires will own the United States…We need a constitutional amendment to overturn Citizens United.”

He then touched on running for President, and should he decide to run, takes no prisoner:

“Anyone who wakes up in the morning and has this passionate desire to become the President of the United States is somebody you should never vote for…Obviously, it’s no great secret I am giving thought to being President. The question I have to ask is, if you take on the Koch Brothers, and if you take on Wall Street and call for the breaking up of the largest financial institutions in this country, and if you take on the healthcare insurance industry, and if you take on the pharmaceutical industry that charges us the highest prices in the world for medicine, and if you take on the military-industrial complex and say to them maybe they should not be selling weapons systems to the military for huge costs — you know, if you take on those people you’re gonna have a little bit of pushback.”

Senator Sanders is right when he says CEOs are too big to jail. Virtually no one was held responsible for their actions in the 2008 financial crisis. Perhaps Sanders can continue his outspoken lambasting of the system that has cheated us all right in time for the 2016 election.

 

Reprinted with permission from Addicting Info