“Democratic presidential hopefuls Hillary Clinton and Bernie Sanders both agree that more should be done to rein in the large financial institutions that exert so much influence over both the U.S. economy and the American political system.

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“Dennis Kelleher, president and CEO of Better Markets, a Washington, D.C.,-based investor advocacy group formed in the wake of the 2008 crisis, said Congress already has the ability to break up so-called ‘too big to fail banks’ under Dodd-Frank. “There is massive authority under Dodd-Frank if anyone wanted to end too big to fail,” he said.

“Kelleher said much of the Wall Street reform rhetoric emanating from all of the candidates’ campaigns – Democratic and Republican – hinges on a hypothetical future Congress amenable to passing new regulations to rein in the big banks. Given Wall Street’s sway over the political process, he said he’s skeptical that’s going to happen. Instead, the candidates should focus on reforming Wall Street under existing laws.

“Every candidate owes the American people a detailed explanation of how to regulate Wall Street under existing authorities,” he said. “It’s inexcusable that any ‘too big to fail’ banks remain.”

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Read the full Fox Business article by Dunstan Prial here.