Bernie Sanders: Banking, Not Gambling

Posted by admin on Monday, May 2, 2016

Bernie Sanders Money Quote saying we need to stop Wall Street from speculating with small depositors money. Bernie Sanders said:
 
Banking should be about providing affordable loans to Americans who need to purchase homes and cars, not reckless gambling on Wall Street Quote
 

Banking should be about providing affordable loans to Americans who need to purchase homes and cars, not reckless gambling on Wall Street” — Bernie Sanders

 

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In this quote, Bernie Sanders outlines his view of the proper role and priorities of the banking industry. He believes banks should focus on “providing affordable loans to Americans” seeking to buy necessities like homes and vehicles, which supports the real economy.

However, Sanders argues that “reckless gambling on Wall Street” through complex financial products distracts from this core function. His perspective is that banks would be better fulfilling their social purpose by concentrating on reasonably priced lending to the public rather than high-risk speculation.

The quote conveys Sanders’ position that banking should serve ordinary citizens’ needs, not the profit motives of Wall Street, by orienting their activities around steady consumer and business credit rather than volatility and outsized profits through trading.


 

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