Bernie Sanders: Make Banking Boring Again
on Monday, May 2, 2016Bernie Sanders Money Quote saying banks should not be legally able to wager depositors money on big risky Wall Street gambles. Bernie Sanders said:
“I want to make banking boring again. It shouldn’t be about making as much profit as possible by gambling on esoteric financial products” — Bernie Sanders
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In this quote, Bernie Sanders is expressing his view that the banking industry should refocus on more basic, prudent activities rather than seeking maximum profits through complex or risky financial speculation. Sanders seems to believe banks have strayed too far from “boring” but stable practices like providing loans and payment services to everyday consumers and businesses.
Instead, he argues they are too preoccupied with developing obscure “esoteric financial products” to gamble or trade with, solely in pursuit of outsized profits. Sanders’ goal of making banking “boring again” suggests he wants the sector to prioritize sound, customer-focused activities over speculative instruments and transactions that could threaten economic stability.
The quote conveys Sanders’ perspective that banks would be better off, and less prone to crisis, if they reigned in risky behaviors to concentrate on steady, predictable business that serves public needs.
I want to make banking boring again. It shouldn't be about making as much profit as possible by gambling on esoteric financial products.
— Bernie Sanders (@BernieSanders) May 2, 2016