“No single financial institution should have holdings so extensive that its failure could send the world economy into another financial crisis … If an institution is too big to fail, it is too big to exist.”

— Bernie Sanders

[Huntley, Steve, Steve Huntley: Sanders the socialist sure gets it right on big banks, http://chicago.suntimes.com/politics/7/71/569095/sanders-socialist-sure-gets-right-big-banks, 1 May 2015, Chicago Sun-Times, 2 May 2015]
2010s, 2015

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Bernie Sanders 123

American politician, senator for Vermont 1941

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“No single… If an institution is too big to fail, it is too big to exist.”

Bernie Sanders (1941) American politician, senator for Vermont

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“There should be no bank too big to fail and no individual too big to jail.”

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“In my view, and we've introduced legislation to deal with this, if a bank is too big to fail, it is too big to exist.”

Bernie Sanders (1941) American politician, senator for Vermont

2016 Presidential Campaign Rally in Madison, Wisconsin, (1 July 2015) https://www.youtube.com/watch?v=OewBDIwy-O4 at 43:00
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“All of America's institutions have become too big to change. Like sumo wrestlers in a basketball game, they move too slow.”

Paul Glover (1947) Community organizer in Philadelphia, Pennsylvania; American politician

http://www.paulglover.org/1105.html (“From the Middle Class to the Mutual Class”), 2011-05-07
Context: “All of America's institutions have become too big to change. Like sumo wrestlers in a basketball game, they move too slow. Big Government, Big Oil, Big Insurance, Big Finance, Big Agriculture, Big Highway, Big Education, Big Military, Big Prison, Big Police, Big Poverty-- these feed on disaster and control. They no longer exist primarily to fix problems, but to grow.”

“The 2008 financial meltdown is the result of under-regulated markets built on an ideology of free market capitalism and unlimited economic growth. The fundamental problem is that the underlying assumptions of this ideology are not consistent with what we now know about the real state of the world. The financial world is, in essence, a set of markers for goods, services, and risks in the real world and when those markers are allowed to deviate too far from reality, “adjustments” must ultimately follow and crisis and panic can ensue. To solve this and future financial crisis requires that we reconnect the markers with reality. What are our real assets and how valuable are they? To do this requires both a new vision of what the economy is and what it is for, proper and comprehensive accounting of real assets, and new institutions that use the market in its proper role of servant rather than master.”

Robert Costanza (1950) American economist

Source: Toward a New Sustainable Economy, 2008, p. 40

“He was strongly opposed to getting loans from international financial institutions but the crisis during his time left the country with no choice but to fully embrace World Bank and IMF and the liberalisation policies.”

Chandra Shekhar (1927–2007) Indian politician

PM Chandrashekhar - A firebrand idealist

“Everyone's talked about Bank of America and Citigroup and the rest being too big to fail, but no, no, no. The most important point…is that the US must be perceived to be too big to fail.”

Ian Bremmer (1969) American political scientist

"The West Should Fear the Growth of State Capitalism," http://www.telegraph.co.uk/finance/economics/7883061/The-West-should-fear-the-growth-of-state-capitalism-Ian-Bremmer.html The Daily Telegraph (July 10, 2010).

“Wall Street won’t change until we make it clear that no bank is too big to fail and no CEO is too big to jail.”

Bernie Sanders (1941) American politician, senator for Vermont

Wells Fargo’s Business Model is Fraud https://medium.com/@SenSanders/wells-fargos-business-model-is-fraud-d19fb6fbe0a8#.pu31ehcy2, Medium (22 September 2016)
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“Globalization creates interlocking fragility, while reducing volatility and giving the appearance of stability. In other words it creates devastating Black Swans. We have never lived before under the threat of a global collapse. Financial Institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks — when one fails, they all fall. The increased concentration among banks seems to have the effect of making financial crisis less likely, but when they happen they are more global in scale and hit us very hard. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur… I shiver at the thought.”

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Source: The Black Swan: The Impact of the Highly Improbable (2007), pp. 225-226

“Rather than justice for all, we are evolving into a system of justice for those who can afford it. We have banks that are not only too big to fail, but too big to be held accountable.”

Joseph E. Stiglitz (1943) American economist and professor, born 1943.

“No single financial institution should have holdings so extensive that its failure could send the world economy into another financial crisis … If an institution is too big to fail, it is too big to exist.”

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