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Reply #24: Sen. Bernie Sanders said the top 1-percent made $680 billion over the past 7 years. [View All]

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-22-08 09:18 AM
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24. Sen. Bernie Sanders said the top 1-percent made $680 billion over the past 7 years.
Gee. And this bailout is to cost $700 billion. That "overhead" must really be something. /

More from Bernie:

Vermont Delegation: Make The Rich Pay

Andy Potter - WCAX News
Burlington, Vermont - September 21, 2008

The financial crisis on Wall Street moves to the nation's capital this week, as Congress considers a record-setting bailout package for the financial industry. All of this has Vermont's congressional delegation pledging to make rich investors, not working Vermonters, pay for it.

The Bush administration this weekend asked Congress for the authority for the government to purchase $700 billion worth of bad debt to alleviate the threat of a financial meltdown. But Sen. Bernie Sanders (I-Vt) says he'll oppose the deal unless the burden of paying for it is placed on wealthy investors who profited from the system.

"When the wealthiest people have made huge sums of money in the last eight years, they have got to contribute their fair share to the bailout," he told Channel 3. "I don't want it being on the middle class, when they already have seen a decline in their standard of living."

Rep. Peter Welch (D-Vt) also worries about an additional impact on the middle class.

He said, "The question for me, the fundamental question, is what do we have to do to protect the 401Ks, the IRAs, the college accounts and the money market deposits of average Vermonters and average Americans. That's the first and foremost question for me. What do we have to do to protect middle class investors, folks who had no culpability in creating this mess."

Sen. Patrick Leahy (D-Vt), who stayed in Washington over the weekend, issued a statement that read, "I would like to see progress toward a balanced bill that also helps overburdened middle class families. It should not include get-out-of-jail-free cards for those whose greed caused this mess."


I'm going from memory, but Bernie wants those who made money off the scams to pay -- those people in your post, 'Dreamy, especially them.
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