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IPFS News Link • Politics

The Bernie Sanders pledge: $2 ATM fees

• http://money.cnn.com

Wall Street is "feeling the Bern."

In a major speech Tuesday, Bernie Sanders vowed to cap ATM fees at $2, and said that no one from Goldman Sachs (GS) would ever work in his administration.

It's a direct hit at Hillary Clinton. One of her top advisers is 18-year Goldman veteran Gary Gensler. And Bill Clinton had Goldman alums in his inner circle too, including Treasury Secretary Robert Rubin.

Sanders has made Wall Street a top issue, and says bankers are "destroying the very fabric of our nation." It's helping him remain competitive in key states like Iowa and, especially New Hampshire.

A decade ago, about half of America trusted banks. Now that trust has fallen to a historic low of just 20%, according to Gallup.

"Greed, fraud, dishonesty and arrogance. These are some of the words that best describe the reality of Wall Street today," Sanders said.

Bernie wants to break up the banks

The only solution, Sanders says, is to break up big banks like JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) so taxpayers will never have to bail them out again.

Hillary Clinton isn't willing to go that far.

Sanders claims it's because she is too friendly with Wall Street. Hillary has made millions by giving speeches to the big banks for hefty fees.

Hillary and her surrogates fire back that Sanders is naive, and that his plan doesn't address the increasing role of hedge funds and other non-bank players.


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