Bernie Sanders: They Bailed Out Banks
on Monday, May 30, 2016Bernie Sanders Money Quote saying while the working public lost their work, savings and houses, the government saved the banks. Bernie Sanders said:
“The American economy and much of the world was plunged into the worst economic decline since the 1930s. Working people lost their jobs, their homes and their savings, while the government bailed out the banks” — Bernie Sanders
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In this quote, Bernie Sanders is describing the impact of the Great Recession that began in late 2007. He notes that the American economy and much of the world experienced the worst economic downturn since the 1930s Great Depression.
Sanders then outlines how this crisis affected working people specifically – they lost their jobs, homes, and savings. He contrasts this by saying that while ordinary citizens suffered greatly, the government’s response was to “bail out the banks.”
Sanders appears to be criticizing the lopsided nature of the recovery efforts, arguing that more could have been done to directly aid average workers rather than just the financial sector.
Overall, the quote captures Sanders’ view that the recession devastated many working families yet the banks received preferential treatment.