Democratic presidential candidate Bernie Sanders shared a few details on how he would break up big financial institutions during a recent interview with a newspaper's editorial board.
According to WBRC, the Vermont senator said in an interview that he will have a legislation passed or give authority to the secretary of the treasury to determine whether the banks are a danger to the nation's economy over the problem of too-big-to-fail. However, Sanders did not elaborate more on how exactly his plan would work.
When he was asked how breaking up bank institutions would affect assets and jobs at large financial establishments like Citibank or JP Morgan Chase, he said that it is not his decision, rather spew another question asking if it is the bank's decision as to what they want to do or how they want to reconfigure themselves.
Sanders was also asked in the wide-ranging interview about an unlawful death lawsuit against a rifle maker over the Sandy Hook Elementary School massacre. He responded that gun dealers should not be sued for selling legal products that have been used improperly. Although he did say that people should be able to file a lawsuit against manufacturers and dealers who sell when they know that the guns are going to the hands of the wrong people, reports ABC News.
Fortune reported that Sanders has failed to fully describe how he would break up the banks. Sanders acknowledged that by passing a legislation he could get the job done, given how difficult it is to pass the Dodd-Frank financial policies. When asked whether the Fed has the authority to do this under Dodd-Frank, Sanders said he doesn't know, but thinks that the administration can have it. The presidential candidate, who has made banking reform a central issue of his campaign, then argued that some financial institutions in America hold too much power.
Sanders also said that he did not make a whole lot of study as to where he would imprison a captured Islamic state commander. Moreover, he expressed his support to President Barack Obama's policy regarding drones.
