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

Thousands of important and intelligent men have never been able to grasp the principle of comparative advantage or believe it even after it was explained to them
Paul SamuelsonRead
Economics taught in most of the elite universities are practically useless in my context. My country is dominated by drug economy and a mafia. Textbook economics does not work in my context, and I have very few recommendations from anybody as to how to put together a legal economy.
Ashraf GhaniRead
The present tax codes inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.
John F. KennedyRead
It is credit that matters, not money (in other words, monetarism is a false ideology).
George SorosRead
Prosperous farmers mean more employment, more prosperity for the workers and the business men of every industrial area in the whole country.
Franklin D. RooseveltRead
The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.
Henry HazlittRead

A little wisdom, now and then

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