Wall Street is openly worrying that Bernie Sanders is pushing Hillary Clinton to the left by calling for the biggest banks in America to be broken up.
Wall Street is worried that Sen. Bernie Sanders’s vigorous calls for banking industry reform will pull Hillary Clinton to the left, as the two presidential candidates battle for the 2016 Democratic nomination.
Despite the vocal opposition from the business community, Sanders’s ability to activate progressive outside groups could mean he may be able to move Clinton to the left — even if, as conventional wisdom says, he poses no real threat to the former secretary of State’s eventual nomination.
Wall Street should be worried. Former Sec. of State Clinton has already adopted the positions held by a majority in her party on issues like immigration, Citizens United, and gay marriage. Wall Street’s persistent suggestions that Sen. Sanders’s new bill that would break up the big banks does not scare them sound more like they are trying to talk themselves down off of the ledge.
Before Sanders entered the race, Clinton was already moving left, but the difference is that she now has an opponent that will hold her accountable if she tries to run a centrist general election-style campaign during the Democratic primary.
Bernie Sanders is having a large impact on the race for the Democratic nomination. The Senator from Vermont is shaping the debate. He has shown that he is not afraid to up the ante by taking solidly liberal policy positions.
Bernie Sanders is the embodiment, but what Wall Street should really be worried about is the movement within the Democratic Party to the left. It isn’t just Bernie Sanders who is pulling Hillary Clinton to the left. The Democratic Party has moved left. Even if Sanders were not in the race, Clinton would still be moving left.
Bernie Sanders has been a game changer, but the wave he is riding is being powered by millions and millions of individuals whose daily economic pain remind them of the Wall Street caused Great Recession.