I just received an email from the Sanders campaign. Do you really expect Hillary’s supposedly more powerful Wall Street regulation plan to be more effective than Bernie’s plan?
Bernie’s plan is to break up the big banks so that no matter what nefarious scheme they come up with next, they won’t be big enough to be able to damage the country and the world like they did in 2008/2009. Hillary and her advisers seem to be under the delusion that they can anticipate the next scheme and put in specific regulations to prevent it. Even if that worked it would only be protection against that one scheme. Over thousands and thousands of years of human history, many nefarious schemes have been invented. That is why we need general laws about fraud, not just specific laws for each and every possible fraud. The laws against fraud won’t work, of course, unless we enforce them and mete out meaningful punishment for violators of the law. A fine that is a tiny fraction of the profits of the fraud is not a meaningful punishment.