Bernie Sanders: Wall Street Rules Congress

Posted by admin on Wednesday, October 14, 2015

Bernie Sanders @SenSanders Money Quotation saying to Hillary Clinton during 2015 democratic presidential debate – we need to regulate financial firms. Bernie Sanders said:
 
Bernie Sanders Congress doesn't regulate Wall Street. Wall Street regulates Congress, Saying ‘please do the right thing’ is kind of naïve quote
 

“Congress doesn’t regulate Wall Street. Wall Street regulates Congress, Saying ‘please do the right thing’ is kind of naïve” — Bernie Sanders

 

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In this quote, Bernie Sanders is sharply criticizing the disproportionate influence that Wall Street has over Congress in setting financial policies and regulations. His view is that rather than Congress and elected officials objectively regulating the financial industry, it is actually Wall Street that exerts control over Congress through the power of its financial resources and lobbying efforts.

Sanders seems to be implying it is futile to simply ask Congress to “do the right thing” when it comes to curbing Wall Street excesses, because the sector has effectively captured the policymaking process through campaign donations and other political leverage over lawmakers.

The quote conveys Sanders’ belief that meaningful reform requires reducing Wall Street’s outsized impact on political decisions in order to establish a fairer system with proper oversight of the financial industry.

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