Bernie Sanders on Theodore Roosevelt

“If a bank is too big to fail, it is too big to exist. When it comes to Wall Street reform, that must be our bottom line. This is true not just because of the risk to our economy of another collapse and another bailout; it is also true because the current extreme concentration of ownership in the financial industry allows a very small number of huge financial institutions to have far too much economic and political power over this country. If Teddy Roosevelt, the Republican trustbuster, were alive today, he would say, "Break 'em up." And he would be right.”

“More than a century ago, President Theodore Roosevelt recognized the danger of massive wealth and income inequality and what it meant to the economic and political well-being of the country. In addition to busting up the big trusts of his time, he fought for the creation of a progressive estate tax to reduce the enormous concentration of wealth that existed during the Gilded Age. "The absence of effective state, and, especially, national, restraint upon unfair money-getting has tended to create a small class of enormously wealthy and economically powerful men, whose chief object is to hold and increase their power," the Republican president said. "The really big fortune, the swollen fortune, by the mere fact of its size acquires qualities which differentiate it in kind as well as in degree from what is passed by men of relatively small means. Therefore, I believe in.. a graduated inheritance tax on big fortunes, properly safeguarded against evasion and increasing rapidly in amount with the size of the estate." Roosevelt spoke those words on August 31, 1910. They are even more relevant today.”