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2009, 07 Apr 16

Bernie Blows It

Anybody who took the time to listen to Bernie all these years already knew it, but apparently it’s a revelation that he’s bat s*** crazy.

Time and again, when pressed to get beyond his rhetoric on the evils of corporate America and Wall Street, Sanders struggled. Often mightily. (The Daily News published the full transcript of the interview today so you can check it out for yourself.)

A few examples make the point.

Here’s an exchange between the editorial board and Sanders on how, specifically, he would break up the biggest banks in the country:

Daily News: And then, you further said that you expect to break them up within the first year of your administration. What authority do you have to do that? And how would that work? How would you break up JPMorgan Chase?

Sanders: Well, by the way, the idea of breaking up these banks is not an original idea. It’s an idea that some conservatives have also agreed to.

You’ve got head of, I think it’s, the Kansas City Fed, some pretty conservative guys, who understands. Let’s talk about the merit of the issue, and then talk about how we get there. …

Daily News: Okay. Well, let’s assume that you’re correct on that point. How do you go about doing it?

Sanders: How you go about doing it is having legislation passed, or giving the authority to the secretary of treasury to determine, under Dodd-Frank, that these banks are a danger to the economy over the problem of too-big-to-fail.

Daily News: But do you think that the Fed, now, has that authority?

Sanders: Well, I don’t know if the Fed has it. But I think the administration can have it.


2009, 07 April 2016


  1. Kevin Scheunemann

    Oh Bernie. Just take the North Kotesn Un approach. Brute government force is the only way socialism can get truly done.

  2. Kevin Scheunemann


  3. old baldy


    Better tell that to Sweden. But then you would have to discover all the things they have that we don’t. Like better health care.

  4. Pat
    A notion is rapidly crystallizing among the national media that Bernie Sanders majorly bungled an interview with the editorial board of the New York Daily News. His rival, Hillary Clinton, has even sent a transcript of the interview to supporters as part of a fundraising push. A close look at that transcript, though, suggests the media may be getting worked up over nothing.

    In fact, in several instances, it’s the Daily News editors who are bungling the facts in an interview designed to show that Sanders doesn’t understand the fine points of policy. In questions about breaking up big banks, the powers of the Treasury Department and drone strikes, the editors were simply wrong on details.

    Take the exchange getting the most attention: Sanders’ supposed inability to describe exactly how he would break up the biggest banks. Sanders said that if the Treasury Department deemed it necessary to do so, the bank would go about unwinding itself as it best saw fit to get to a size that the administration considered no longer a systemic risk to the economy. Sanders said this could be done with new legislation, or through administrative authority under Dodd-Frank.

    This is true, as economist Dean Baker, Peter Eavis at The New York Times, and HuffPost’s Zach Carter in a Twitter rant have all pointed out. It’s also the position of Clinton herself. “We now have power under the Dodd-Frank legislation to break up banks. And I’ve said I will use that power if they pose a systemic risk,” Clinton said at a February debate. No media outcry followed her assertion, because it was true.

    As the interview went on, though, it began to appear that the Daily News editors didn’t understand the difference between the Treasury Department and the Federal Reserve. Follow in the transcript how Sanders kept referring to the authority of the administration and the Treasury Department through Dodd-Frank, known as Wall Street reform, while the Daily News editors shifted to the Fed.

  5. old baldy

    Ah, the perils of trying to cherry pick the right phrase to prove a point, even if the opposite is true.

  6. Pat

    Sometimes it’s cherry picking, sometimes it’s believing what the main stream media feeds you. You alway need to check what’s being fed you and the motive of the feeding.

    In the Daily News piece you have to look no further than who owns it. Follow the money. Mort Zuckerman has been a big donor to the Clinton Foundation. Check out all the rest of the media moguls that donated to the Clinton Foundation. It’s no wonder the news gets slanted one way or the other.

  7. Mark Maley

    The Big Banks didn’t cause the bail out. In fact , they didn’t want the money when it was offered and didn’t lend it when it was given

    Smaller lenders like countrywide and non backs like Lehman Brothers were the primary causes of the bad loan bundling then bought insurance against the bad loans from AIG

    love his passion , not sure he’s thought through anything more than slogans

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