Sanders vowing to break up banks during first year in office

“Our goal must be to create a financial system and an economy that works for all of our people, not just a handful of billionaires”, the Vermont senator insisted.

Martin O’Malley, despite languishing far behind both Clinton and Sanders in the polls, gave a barnstorming speech that impressed many in the room with its concrete policy proposals, and which won growing applause among an audience largely – and audibly – composed of either die-hard Clinton or die-hard Sanders supporters.

Since 1977, the Fed has been mandated by Congress to pursue a “dual mandate” of maximum employment and low inflation, but Fed officials are often criticized for pursuing one at the expense of the other.

Sanders also wants to cap ATM fees at two dollars and cap interest rates on credit cards and consumer loans at 15 percent.

Clinton pledged that as the president of the United States, she would make Wall Street dynamic and stated that “no bank is too big not to fail and no banker is too important not to jail”.

“I think what you have is a situation where banks are not only too big to fail, bankers are too big to jail”, he added.

She also opposes reinstating the Depression-era Glass-Steagall Act, which effectively limited the size of financial companies by prohibiting commercial banks from engaging in investment banking activities.

Democratic presidential candidate Bernie Sanders is pledging to break up the country’s largest financial institutions within the first year of his administration if he is elected to the White House.

Clinton made the same case on her behalf, saying that “in January of 2017, a new president is going to walk into the Oval Office and America can’t afford it to be a Republican who will rip away all the progress we have made”. Shadow banks did gamble recklessly, but where did that money come from?

“Now, my opponent, Secretary Clinton says that Glass-Steagall would not have prevented the financial crisis because shadow banks like AIG and Lehman Brothers, not big commercial banks, were the real culprits”. Asked if members of Clinton’s staff or volunteers in the state had reached out to her about caucusing, Beebe described getting a call, email or text message from the campaign almost daily.

He doesn’t support Clinton but he said her electability is proven.

SANDERS: Well, I disagree with that. No. Will they begin to play by the rules if I’m president? Please see our terms of service for more information.

In a “Morning Joe” interview, Sanders called out his Democratic presidential rival repeatedly by name. NPR’s Jim Zarroli reports.

Sanders has proposed a taxation system on financial institutions to curb high-speed trading and Wall Street speculation. And here, just a few blocks from some of the world’s biggest banks, he let loose again.

“Your choice in the caucus really matters”, said Hillary Clinton, speaking first at the “Battle Born Battleground” Dinner hosted by the state party.

ZARROLI: At one point, Sanders read headlines from press reports about financial scandals to make the point that no one involved had been sent to jail. After the financial crisis, he said, the Fed had acted urgently to rescue the big banks. Bernie Sanders, argues that staving off a GOP victory depends on stoking voter enthusiasm by breaking with Clinton’s brand of “establishment politics” – a quality he feels he is uniquely positioned to offer.