Bernie Sanders, Democratic presidential candidate and Vermont senator, unveiled his plans to increase oversight of Wall Street at a public meeting at Town Hall in Manhattan yesterday
Sanders vowed that as president he would break up big banks, reenact the Glass Steagall Act, improve transparency at the Federal Reserve and further prosecute banks that he says were responsible for the 2008 financial collapse.
“Under my administration, Wall Street CEOs will no longer receive a get out of jail free card,” Sanders said. “Not only will big banks not be‘too big to fail,’ but big time bankers will not be too big to jail.”
Sanders has sparred with Hillary Clinton, the front-runner for the Democratic nomination, on how to best regulate the financial sector.
Clinton’s campaign office released a statement prior to Sanders’ speech, calling for Sanders to endorse Clinton’s plans for Wall Street reform.
“Senator Sanders should go beyond his existing plans for reforming Wall Street and endorse Hillary Clinton’s tough, comprehensive proposals to rein in risky behavior within the shadow banking sector,” the statement read.
Hundreds attended the Sanders event yesterday, including City Councilmember Rafael Espinal and state senators Bill Perkins and James Sanders.
“I’ve never heard a campaign speech on macroeconomics that was as easy to understand,” said Sanders supporter, Donald Gardner, a 70-year-old retired consultant from Westchester shortly after the speech.