"Within the first 100 days of my administration, I will require the secretary of the Treasury Department to establish a 'Too-Big-to Fail' list of commercial banks, shadow banks and insurance companies whose failure would pose a catastrophic risk to the United States economy without a taxpayer bailout.
"Within one year, my administration will break these institutions up so that they no longer pose a grave threat to the economy as authorized under Section 121 of the Dodd-Frank Act.
"And, I will fight to reinstate a 21st Century Glass-Steagall Act to clearly separate commercial banking, investment banking and insurance services. Let’s be clear: this legislation, introduced by my colleague Senator Elizabeth Warren, aims at the heart of the shadow banking system.
"In my view, Senator Warren, is right. Dodd-Frank should have broken up Citigroup and other 'too- big-to-fail' banks into pieces. And that’s exactly what we need to do. And that’s what I commit to do as president.
"Now, my opponent, Secretary Clinton says that Glass-Steagall would not have prevented the financial crisis because shadow banks like AIG and Lehman Brothers, not big commercial banks, were the real culprits.
"Secretary Clinton is wrong."
MarketWatch provides a transcript of Bernie Sanders's January speech on the economy.