Rep. Bernie Sanders' (I-VT) House floor speech advocating against bailouts of banking institutions at the expense of middle and working class taxpayers. Mar 12, 1991.... ( read more )
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In the early 1990s, the United States was in the midst of a financial crisis. The Savings and Loan (S & L) industry was collapsing, and it was clear that something had to be done to prevent a complete collapse of the financial system. This is where Bernie Sanders and his views on bank bailouts come into play. In 1991, Bernie Sanders was a member of the U.S. House of Representatives, and he had strong opinions about how the government should address the S & L crisis. Sanders was opposed to using taxpayer money to bail out failing banks. He argued that the banks had made poor business decisions and tha
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