People in this thread have already made some great rebuttals, but one more to really emphasize how retarded Bernie is about finance. He wants to reinstate Glass Steagall... even though GS wouldn't have prevented the financial collapse of 2008. The biggest failures -- Bear Stearns, Goldman Sachs, AIG -- were pure-play insurance or investment companies. They didn't have commercial banking divisions and, therefore, weren't engaging in the kind of proprietary trading GS seeks to prevent. And Bernie's proposals about incentivizing businesses to lend to minorities and small businesses already exist. Government agencies like the SBA, FHA, VA, and HUD provide subsidized loans to people who wouldn't qualify for private loans otherwise. Basically the Fannie Mae and Freddie Macs of different market segments. In addition to the CRA, lending has enough politicization already.

I work in commercial banking. I can tell you that the regulatory burden of Dodd-Frank, combined with a historically lengthy period of low interest rates, has destroyed small banking in the United States. It's not coming back, folks. In the area where I work, the number of existing commercial banks between 2008 and 2015 has declined by 62 percent. More than half have either failed or merged with larger banks because it's just not worth it anymore. A new bank charter hasn't been approved in my state since 2006! And the few applicants that do apply have to go to hell and back just to comply with the new regulations.

Of course, Bernie wouldn't understand the nuances of bank regulation since he's perched atop Capitol Hill for the past 30 years telling other people how to do their jobs.