Obama and Bernie Sanders

financial system: But there is no doubt that the financial system is substantially more stable, Obama told the *Times*. It is true that we have not dismantled the financial system, and in that sense, Bernie Sanders critique is correct, according to MSNBC. However, Obama said that the proposal to expand on the Dodd-Frank Wall Street Reform and Consumer Protection Act by dismantling big banks such as JP Morgan Chase, Citi Bank or Bank of America is not as simple of a solution as it appears. Barack Obama said in an interview about his economic policies with the* New York Times Magazine *that Sanders’ critique about big banks is correct, in so far as that they have not yet been broken up. Obama signed Dodd-Frank into law in 2010, which sought to monitor and prevent risks that could impact the entire finance industry. It not something that you can just redesign and break up and put back together again without consequences, he added. The law also created the Consumer Financial Protection Bureau to ease the the shutdown of banks without using bailouts at the cost of taxpayers. * Obama to travel to Flint, Michigan amid city water crisis* But one of the things that I’ve consistently tried to remind myself during the course of my presidency is that the economy is not an abstraction. (news.financializer.com). As reported in the news.