US Senator Bernie Sanders has introduced a bill in Congress affectionately referred to as the Too Big To Fail, Too Big To Exist Act.

Notwithstanding any other provision of law, not later than 90 days after the date of enactment of this Act, the Secretary of the Treasury shall submit to Congress a list of all commercial banks, investment banks, hedge funds, and insurance companies that the Secretary believes are too big to fail (in this Act referred to as the ‘‘Too Big to Fail List’’).

Notwithstanding any other provision of law, beginning 1 year after the date of enactment of this Act, the Secretary of the Treasury shall break up entities included on the Too Big To Fail List, so that their failure would no longer cause a catastrophic effect on the United States or global economy without a taxpayer bailout.

Supporters of the Too Big To Fail, Too Big to Exist concept can sign a petition at Senator Bernie Sanders’ website.