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

If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
John Maynard KeynesRead
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
Peter SchiffRead
The evidence of history speaks with a single voice. I do not know any exception to the proposition that if you compare like with like, the freer the system, the better off the ordinary poor people have been.
Milton FriedmanRead
No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
Ludwig Von MisesRead
As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital.
Ludwig Von MisesRead
The trouble with capitalism as a system is that only those who have or can get capital can make it work for them, and that leaves out damn near all of us.
Molly IvinsRead

A little wisdom, now and then

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