Bernie Sanders is one of the few incorruptible Senators. It’s not surprising, then, that it was Sanders who stepped forward to proposed legislation to actually break up the largest banks. It’s distressing that laws accomplishing this weren’t passed back in 2008, but not surprising, since the banks own Congress. Politico reports:

Sen. Bernie Sanders proposed legislation today that would break up the big banks and financial institutions that crashed the economy. The ending of too big to fail would also open the door to criminal prosecutions.

Sen. Sanders called ending too big to fail a matter of justice, “We have a situation now where Wall Street banks are not only too big to fail, they are too big to jail. That is unacceptable and that has got to change because America is based on a system of law and justice. In my view, no single financial institution should have holdings so extensive that its failure could send the world economy into crisis. At the very least, no institution, no CEO in America should be above the law. If an institution is too big to fail, it is too big to exist.”

The legislation makes its intended purpose clear, “Notwithstanding any other provision of law, beginning 1 year after the date of enactment of this Act, the Secretary of the Treasury shall break up entities included on the Too Big To Fail List, so that their failure would no longer cause a catastrophic effect on the United States or global economy without a taxpayer bailout.