Rep. Bernie Sanders (I-VT) gives a blistering opening speech during a deposition hearing on the S & L crisis and castigates the bailout of corrupt savings-and-loan institutions, putting taxpayers at risk and exploding the national debt. Sanders argues for the need for a financial transaction tax as an instrument for generating security revenue and a measure by which the banks should pay for their own risky trading and speculation behavior.... ( read more )
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On July 29th, 1992, Bernie Sanders took to the floor of the House of Representatives to deliver a scathing indictment of bank bailouts. He spoke out against the practice of using taxpayer money to rescue banks that had engaged in reckless behavior and were on the brink of collapse. Sanders began by reminding his colleagues of the econom
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