A Quote by Bernie Sanders
The Fed has got to become a more democratic institution that is responsive to the needs of the middle class, not just Wall Street CEOs.
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I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
Greed has increasingly become a virtue among Wall Street bankers and corporate CEOs in the U.S. Nowhere else in the world do CEOs insist on receiving compensation as high compared to what their employees earn.
Look at what's happening between Main Street and Wall Street. The stock market index is up 136 percent from the bottom. Middle class jobs lost during the correction: six million. Middle class jobs recovered: one million. So therefore we're up 16 percent on the jobs that were lost. These are only born-again jobs. We don't really have any new jobs, and there's a massive speculative frenzy going on in Wall Street that is disconnected from the real economy.
If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life.
The anger from Occupy Wall Street is coming from this simple fact: America no longer seems to be a place where you can work your way up, from rags to riches, from lower class to middle class to upper class.
I had come from a middle-class family in Port Washington, Long Island, and I was really clueless about Wall Street. My first job there I basically got fired from.
As far as I'm concerned, the more power we push back to the patient, the individual, the American citizen, the more responsive the system is to her needs. 'Obamacare,is responsive' is like a hammer is responsive to a piece of glass.
What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.
I got all the respect in the world for the front-runners in this race, but ask yourself: If we replace a Democratic insider with a Republican insider, you think we're really going to change Washington, D.C.? You don't have to settle for Washington and Wall Street insiders who supported the Wall Street bailout and the Obamacare individual mandate.
If CEOs insist that middle class Americans compete with cheap foreign labor, why not outsource the jobs of CEOs? If business is all about cost, they should be the first to volunteer.
Unions sustained and fed the middle class. It's no coincidence that as union membership has continued to dwindle, so have the fortunes of the middle class.
The country needs more than one-party dominance, as much as I believe the Democratic Party is the party for the middle class... We need to have a marketplace of ideas.
I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.
In five days, you can turn the page on policies that put greed and irresponsibility on Wall Street before the hard work and sacrifice of folks on Main Street. In five days, you can choose policies that invest in our middle class, and create new jobs, and grow this economy, so that everyone has a chance to succeed, not just the CEO, but the secretary and janitor, not just the factory owner, but the men and women on the factory floor.
Bankers themselves govern the Fed to some extent, and then there's the classic revolving door where Fed officials come from and then go back to the financial sector. Fed officials tend to believe that the institution should have a large measure of independence from democratic control, even though in law it is under the ostensible control of Congress.
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