May 18, 2016
The Washington Post, which has decided to abandon journalism for the cause of bashing Bernie Sanders, included this bizarre comment in a piece on the failure of the college headed by Jane Sanders, Senator Sanders’ wife:
“…many observers wonder whether the septuagenarian socialist even fully understands how the economy works. His inability to explain how he’d break up the big banks during the disastrous sit-down with the New York Daily News editorial board last month remains a good data point in the case that he is in over his head on policy.”
Actually, Senator Sanders (the septuagenarian above — ageism in the service of Sanders-bashing is cool at the Post), explained exactly how he would break up the big banks. He said that he would have the banks break themselves up. The logic is simple. The banks know the most efficient way to break themselves into smaller pieces and the incentive to do so is in order to preserve shareholder value. The government’s role is to give them size target(s), timelines, and penalty schedules for failing to meet the targets.
It does seem like someone is over their head in this story and it’s not the Senator from Vermont.
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