Though Democratic presidential candidate Bernie Sanders has pledged to break up the country's largest financial institutions, it is unlikely his rhetoric will have an impact on the banking system — even if he prevails in his quest for the White House, Barclays' Jason Goldberg said.
Banking giants have been in the crosshairs of regulators for years, with the 2008 crisis introducing the public to the concept of being "too big to fail." Ending the concept was a major push behind financial reform regulation in the aftermath of the meltdown, but mega-banks still prevail. According to Goldberg, however, that's a good thing.
Goldberg said that big banks are a necessary component of the financial system, since they are able to make large loans and serve global communities.