
Number Two fully approves of this legislation.
Two pages.
That's the length of the "Too Big to Fail, Too Big to Exist" bill that Senator Bernie Sanders introduced on Friday. The proposal would require Timothy Geithner to submit a list of institutions that are considered "too big to fail" to Congress ninety says after the passing of Sanders' plan, and then, a year after that date, the Treasury would have to go about breaking up every company on the list. The interim period is for determining the best way to accomplish the breakups (several female senators have already opined that doing so via text message is not acceptable).
The simplicity of Sanders' bill is, in fact, the point of the bill itself. It draws a line in the sand. It directly orders Geithner to get rid of this cancer in the economy. The rules of the breakups themselves can be a thousand pages long, but as for actually getting them done, that doesn't take much ink. One year. No dilly-dallying. No lollygagging. And certainly no pussyfooting around.
Why such a need to act? Here's an explanation from Sanders himself:
"Here is an example of amazing irony," the senator said in a video shot by Brave New Films accompanying the legislation's release. "Three out of the four largest financial institutions in the country who led us to this financial disaster are now bigger then they were before the collapse. So we have got to break these guys up so we don't see a recurrence of what we saw a year ago."
And here's another example of "amazing irony." It takes a socialist - literally, Sanders openly defines himself as a socialist - to propose the most capitalist bill of the year.






















