QuoteProject
What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
Bernie Sanders
ShareWTF𝕏

Interpretation

What this quote means

The banking and credit industry often exploits vulnerable individuals in ways that are morally similar to criminal activities.

In this quote, Bernie Sanders draws a parallel between the practices of Wall Street and traditional organized crime, highlighting how both exploit those in desperate financial situations. While bankers may operate within the law and maintain a respectable appearance, their predatory lending practices lead to severe consequences for individuals, akin to the violent coercion used by loan sharks.

Themes

BankingPredatory LendingDebtExploitationEconomics

In practice

Example use cases

In a discussion about financial regulations, one could use this quote to emphasize the importance of protecting consumers.

More from Bernie Sanders

At a time when the average student is graduating from a four-year college $27,000 in debt, when hundreds of thousands of capable young people no longer see college as an option because of high costs and when the U.S. is falling further and further behind our economic competitors in terms of the percentage of young people graduating from college, no agreement should be passed which, over a period of years, makes a bad situation worse and will make college even less affordable than it is today.
Bernie SandersRead
Do the elected officials in Washington stand with ordinary Americans - working families, children, the elderly, the poor - or will the extraordinary power of billionaire campaign contributors and Big Money prevail? The American people, by the millions, must send Congress the answer to that question.
Bernie SandersRead
In any democratic, civilized - even non-democratic nations, if you are a nation, it means to say that in our case, if there's a hurricane in Louisiana, the people of Vermont are there for them. If there's a tornado in the Midwest, we are there for them. If there's flooding in the East Coast, the people in California are there for us.
Bernie SandersRead
Who do you think controls the Republican Party? Big money controls the Republican Party. This is where their campaign contributions come from.
Bernie SandersRead
The deficit crisis is real and must be addressed. But it cannot be solved on the backs of the weak and vulnerable.
Bernie SandersRead
Let us wage a moral and political war against war itself, so that we can cut military spending and use that money for human needs.
Bernie SandersRead

Similar quotes

Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.
Mario DraghiRead
A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction.
Klaus SchwabRead
People who live in poor countries have to be entrepreneurial even just to survive.
Ha-Joon ChangRead
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
Janet YellenRead
Many markets work best with little or no outside interference. But others - especially those subject to big 'externalities' - need a helping hand.
Eric MaskinRead
All wealth consists of desirable things; that is, things which satisfy human wants directly or indirectly: but not all desirable things are reckoned as wealth.
Alfred MarshallRead

A little wisdom, now and then

Subscribe for the occasional hand-picked quote. No noise.