Bernie Sanders: Fraud as Business Model
on Wednesday, October 14, 2015Bernie Sanders Money Quotation saying during the 2015 democratic presidential debates to Hillary Clinton that financial firms defraud everyone to profit in the market. Bernie Sanders said:
“Let us be clear that the greed and recklessness of Wall Street, where fraud is a business model, has wrecked this economy” — Bernie Sanders
In this quote, Bernie Sanders is strongly criticizing Wall Street culture and practices. He argues that greed, recklessness and even fraud have become normalized in the financial sector, with the pursuit of profits through risky or unethical means taking precedence over stability and fairness.
Sanders views this as having directly “wrecked the economy,” likely referring to events like the 2008 financial crisis. His implication is that Wall Street’s prioritization of self-interest over responsibility contributed greatly to economic turmoil.
The quote conveys Sanders’ belief that reforms are needed to curb the excesses of the financial industry and redirect its focus toward sustainable growth that benefits society rather than a “business model” that mainly generates wealth for its own participants through questionable means.