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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It's really baffling and bewildering that the Daily News was referring to the Treasury and exec branch regulators as the Fed.  The Federal Reserve is not at all the same and are definitely not interchangeable terms, and that the difference matters tremendously.  And even more bewildering that half of DCUM doesn't seem to get that.[/quote]
I think some link Jeff posted - maybe even earlier in this thread - explains that there are a few possible mechanisms that hypothetically could be used to break up the banks: (1) legislation, (2) Federal Reserve action, and (3) Treasury action.  IIRC, that article tried to suggest (unconvincingly IMHO) that Sanders actually knew what he was talking about in the interview.  To me at least, it appears the interviewer was expecting Sanders to say the Federal Reserve would manage the break-up, especially since Sanders referenced the Kansas Fed as part of his original answer.  But then Sanders said the executive could order it (which is different).  And then he said the executive couldn't order it.

If Sanders understood the process, he clearly could have corrected the record.  The interviewer gave him several opportunities to set the record straight.

Face it - Sanders doesn't understand the process, and he hadn't been prepared to answer on the details.  He's got his big idea that he's been preaching for a while - which is fine to have - but he's never dug into the details of how he'd accomplish it.  Quite frankly, someone in the campaign (Weaver?) should be kicked in the ass for this, because the campaign should have had someone investigate the nitty-gritty details of each of Sanders' big proposals and make sure the candidate actually understands them.  Sloppy.[/quote]

You're entitled to your opinion, but that's not at all what I got out of it.  He only mentioned the Kansas City Fed in reference to support from members of the Fed for breaking up big banks where necessary (i.e. Neel Kashkari and others who've said as much) but he said and implied nothing about the specifics of the Fed's role in managing breakups (and neither for that matter did Clinton).  Neither of them went into much detail or specifics on the mechanics.

Bottom line is, both Sanders and Clinton believe in breaking up banks where necessary, neither of them wants to break up big banks just for the sake of breaking them up, both of them understand that poor lending practices were the root cause of the failure, in fact they do agree on almost all of the major points.  Where their stated differences are is more about what they consider risk and what the thresholds for action are.[/quote]

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