A Socialist Attempts to Save Capitalism

If this what the Morons are afraid of when they speak of socialism, then I'm all for socialism:

Senator Bernie Sanders introduced legislation that would break up financial institutions that are too big to fail. "If an institution is too big to fail, it is too big to exist," Sanders said. "We should break them up so they are no longer in a position to bring down the entire economy. We should end the concentration of ownership that has resulted in just four huge financial institutions holding half the mortgages in America, controlling two-thirds of the credit cards, and amassing 40 percent of all deposits." Sanders' legislation would give Treasury Secretary Timothy F. Geithner 90 days to compile a list of commercial banks, investment banks, hedge funds and insurance companies that he deems too big to fail. The affected financial institutions would include "any entity that has grown so large that its failure would have a catastrophic effect on the stability of either the financial system or the United States economy without substantial Government assistance." Within one year after the legislation became law, the Treasury Department would be required to break up those banks, insurance companies and other financial institutions.

It's rather interesting that it took an Independent (Socialist) to propose some financial reform legislation that actually has something more than "financial reform" in the bill's title, rather than any number of slick-tongued lying piece-of-shit Democrats.

However I have my doubts about CitiGeithner being allowed to determine anything about any financial firm without significant safeguards in place.

Such as, firing Geithner and replacing him with someone like Elizabeth Warren - or just replacing him with Elizabeth Warren...