Bernie Sanders: Criminality on Wall Street

Posted by admin on Saturday, May 28, 2016

Bernie Sanders Money Quote saying wall street banks crimes were the cause of financial crisis. Bernie Sanders said:
 

 

“Financial excesses, indeed widespread financial criminality on Wall Street, played a direct role in causing the world’s worst financial crisis since the Great Depression” — Bernie Sanders

 

 

In this quote, Bernie Sanders is directly blaming “financial excesses” and “widespread financial criminality on Wall Street” for causing the global financial crisis that began in 2008. By financial excesses, Sanders is referring to risky and reckless behavior by large banks and financial institutions that took on dangerous levels of debt and leverage.

By “financial criminality”, he seems to be suggesting that some behavior during this period crossed legal and ethical lines into outright criminal territory, though he does not provide specifics. Sanders argues this behavior within the financial sector led directly to the meltdown of the housing market and subsequent economic downturn, the worst since the Great Depression.

His view is that Wall Street’s excesses and potential illegalities played a primary role in triggering the crisis.

Categories: politics Tagged:bernie sandersdepressionfinancialwall street