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Sunday, April 10, 2016

GE's CEO & Washington Post's Editorial Board point out some of the ways Bernie Sanders is full of shit

We at GE were interested to read comments Monday by Sen. Bernie Sanders (I-Vt.), who told the New York Daily News editorial board that GE is among the companies that are supposedly “destroying the moral fabric” of America. The senator had been asked to cite examples of corporate greed at its worst. Somehow that got him to talking about us.

GE has been in business for 124 years, and we’ve never been a big hit with socialists. We create wealth and jobs, instead of just calling for them in speeches...

See also, from the Washington Post:

Mr. Sanders' shocking ignorance on his core issue

MORE THAN anything else, Sen. Bernie Sanders (I-Vt.) has based his campaign on attacking Wall Street — the millionaires and billionaires who, by his telling, wrecked the U.S. economy, dominate the political system and must be brought to heel. Given his commitment to the message, you might expect he would have some familiarity with the policy details and implications.

A New York Daily News editorial board interview with the candidate proved otherwise. The senator seemed to have no idea of what reformed banks should look like, or whether he would need new legislation, even though the government under his presidency would play a central role in tearing apart these complex financial institutions.

Mr. Sanders followed the interview with what was meant to be a clarifying statement. The treasury secretary would draw up a list of too-big-to-fail banks, Mr. Sanders explained, and break them up under the authority of the Dodd-Frank financial reform law. In an interview with us, Sanders policy adviser Warren Gunnels said that current regulators are not applying existing authorities aggressively enough and that Mr. Sanders would pick a strong treasury secretary with no Wall Street ties to fill in many of the details.

It’s astonishing that, on this of all issues, the campaign would need to issue a what-the-candidate-meant-to-say statement.  Even then, the campaign has left a lot of essential questions unanswered...

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