What a novel concept…
Senator Sanders, a tip-of-the-hat to you.
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Whatever my thoughts about this proposal in theory and in concept (I like it), the amount of power this provides the Executive disturbs the living daylights out of me. This is something that requires a hell of a lot more than a one-paragraph definition if it were to have any kind of neutral application. Otherwise, the way this is currently worded, the Executive would have sole and absolute discretion (subject at best to an arbitrary and capricious standard of review) to say which businesses are and are not so big that they should be broken up.Report
I think I was more pleased with the principle than the actual legal language.
For some strange reason, every time I think of TBTF, I think of Fannie and Freddie ;). With the expectation of Uncle Sam stepping in, it’s not unreasonable to suggest they’d enjoy the same cost of capital advantages that Freddie and Fannie did.
Good points though.Report
Totally. It’s weird to me, sometimes, that the Dem/left-of-center Senators I tend to like the most are the ones that are the furthest left.Report
I had a chuckle thinking about that myself. I mean, me, Mr. Corporate Shill-Hate Unions-Screw Granny-Death Panel Lovin’ Libertarian agreeing with Bernie Sanders?
I mean…seriously…you’d think someone put a gun to my head. 😉Report
I’m for it. Needs to encode a better definition of “too big to fail” (eg, “cannot control more than X amount of Y financial industry), but other than that, good.Report
“Has donated at least $X to candidate’s re-election fund.”Report