This Republican has a surprising plan for breaking up the banks. Clinton and Sanders should steal it.

It's called capital requirements and it's sneaky good

Hillary Clinton and Bernie Sanders are failing to talk about one important topic.
(Image credit: REUTERS/Jim Young)

Could a Republican president of a Federal Reserve bank teach Bernie Sanders and Hillary Clinton a thing or two about reforming the financial industry?

Neel Kashkari is the new president of the Federal Reserve Bank of Minneapolis. A former assistant secretary in the Treasury Department under President George W. Bush's administration, he is a self-described "free market" and "pro-growth" Republican. And in his first big speech in his new role on Tuesday, he shocked the banking community by essentially saying that the financial reform bill Dodd-Frank was an honorable effort, but didn't go nearly far enough.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.