Friday, November 27, 2015

Democratize the financial sector

See this article that shows how Sanders promotes this while Clinton supports big banks. Sanders wants to reinstate Glass-Steagall, which will not only separate lending from speculation but also break up the big banks. Clinton doesn't want to do this and has instead offered piecemeal reforms that keep the big banks in power. Sanders also wants to transition to more democratic banking via non-profit, member-owned credit unions which invest in local communities. Clinton is silent on this and big banks no longer invest in communities this way, solely focused on capital generation via speculative means.

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