Uploaded by SenatorSanders on Oct 4, 2011
"I think they're really touching a nerve," Sen. Bernie Sanders said Tuesday of protests on Wall Street that have inspired demonstrations from Burlington, Vt., to Los Angeles. "The nerve is that the average American understands that as a result of the greed and the recklessness and the illegal behavior on Wall Street, these guys plunged us into the horrendous recession that we're in right now." Even Federal Reserve Chairman Ben Bernanke allowed that there was "excessive risk taking" by Wall Street when Sanders questioned him on Tuesday about the root causes of the recession and the concerns voiced by protesters. "They blame, with some justification, the financial sector with getting us into this mess," Bernanke told another member of the Joint Economic Committee. "I can't blame them," he added. Text | Youtube
"Senator Bernie Sanders (I-VT) and others questioned Federal Reserve Chairman Ben Bernanke on Tuesday about the ongoing “Occupy Wall Street” protest in lower Manhattan.
“Chairman, as you know, there are people demonstrating against Wall Street in New York City and other cities around the country, and I think the perception on the part of these demonstrators and millions of other Americans is that as a result of the greed, the recklessness and the illegal behavior on Wall Street, we were plunged into the horrendous recession that we’re in right now,” Sanders said at a Joint Economic Committee hearing on the economic outlook.
“Do you agree with that assessment?” he asked Bernanke. “Did Wall Street’s greed and recklessness cause this recession, that lead to so many people losing their jobs?”
Bernanke responded that excessive risk taking on Wall Street and the failure of financial regulators “had a lot to do” with the recession." Full Text Here| The Raw Story
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