CNN 2015 Democratic primary debate: on Corporations


Bernie Sanders: I'm not part of casino capitalism that wrecked our economy

Q: Do you consider yourself a capitalist?

SANDERS: Every other major country providing health care to all people as a right, except the United States. You see every other major country saying we are going to have medical and family paid leave. I think we should look to countries like Denmark and learn from what they have accomplished for their working people. Do I consider myself part of the casino capitalist process by which so few have so much and so many have so little by which Wall Street's greed and recklessness wrecked this economy? No, I don't. I believe in a society where all people do well. Not just a handful of billionaires.

CLINTON: What Senator Sanders is saying certainly makes sense in the terms of the inequality that we have. But we are not Denmark. We are the United States of America.

Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Bernie Sanders: Fraud is the business model of Wall Street

The greed and recklessness and illegal behavior of Wall Street, where fraud is a business model, helped to destroy this economy and the lives of millions. In the 1990s, when the Republican leadership and Wall Street spent billions in lobbying, when Alan Greenspan said, "what a great idea it would be to allow these huge banks to merge," Bernie Sanders fought them, and helped lead the opposition to deregulation.
Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Bernie Sanders: Make Wall Street bail out Wall Street; but middle class did

Hank Paulson & Ben Bernanke came in, and said, "The economy is going to collapse because Wall Street is going under." And you know what I said? "Your millionaire and billionaire friends caused this problem. How about your millionaire and billionaire friends paying for the bailout, not working families?" It was wrong to ask the middle class to bail out Wall Street. I want Wall Street now to help kids in this country go to public colleges and universities, free with a Wall Street speculation tax.
Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Hillary Clinton: Every once in a while we have to save capitalism from itself

Q [to Sen. Sanders]: Do you consider yourself a capitalist?

SANDERS: Do I consider myself part of the casino capitalist process by which so few have so much and so many have so little? No, I don't.

Q: Is there anybody else on the stage who is not a capitalist?

CLINTON: When I think about capitalism, I think about the small businesses that were started because we have the opportunity and the freedom in our country to do that. I don't think we should confuse what we have to do every so often in America, which is save capitalism from itself. But we would be making a grave mistake to turn our backs on what built the greatest middle class of the world.

SANDERS: I think everybody is in agreement that we are a great entrepreneurial nation. We have to support small and medium-sized businesses. But you can have all of the growth that you want and it doesn't mean anything if all of the new income and wealth is going to the top 1 percent.

Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Hillary Clinton: Let bank regulators send bank executives to jail

Q: What would you do about reforming Wall Street?

CLINTON: I represented Wall Street, as a senator from New York, and I went to Wall Street in December of 2007--before the big crash that we had--and I said, "cut it out! Quit foreclosing on homes! Quit engaging in these kinds of speculative behaviors." I took on the Bush administration for the same thing. My plan would have the potential of actually sending the executives to jail. Nobody went to jail after $100 billion in fines were paid.

SANDERS: In my view, Congress does not regulate Wall Street. Wall Street regulates Congress. And we have gotta break up these banks.

O'MALLEY: Madam Secretary, you are not for Glass-Steagall. You are not for putting a firewall between this speculative, risky shadow banking behavior. I am, and the people of our country need a president who's on their side, willing to protect the Main Street economy from recklessness on Wall Street.

Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Hillary Clinton: Investigate "shadow banks" and break up big banks

We have to worry about some of the other players--AIG, a big insurance company; Lehman Brothers, an investment bank. There's this whole area called "shadow banking." That's where the experts tell me the next potential problem could come from. The plan that I have put forward would actually empower regulators to break up big banks if we thought they posed a risk. I want to make sure we're going to cover everybody, not what caused the problem last time, but what could cause it next time.
Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Lincoln Chafee: I voted for Glass-Steagall, but I had just arrived in Senate

Q: You have attacked Secretary Clinton for being too close to Wall Street banks. In 1999 you voted for the very bill that made banks bigger.

CHAFEE: The Glass-Steagall was my very first vote, I'd just arrived, my dad had died in office, I was appointed to the office, it was my very first vote.

Q: Are you saying you didn't know what you were voting for?

CHAFEE: I'd just arrived at the Senate. I think we'd get some takeovers, and that was one. It was my very first vote, and it was 92-5.

Q: Well, what does that say about you that you're casting a vote for something you weren't really sure about?

CHAFEE: I think you're being a little rough. I'd just arrived at the United States Senate. I'd been mayor of my city. My dad had died. I'd been appointed by the governor. It was the first vote and it was 90-5, because it was a conference report.

Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

Martin O`Malley: Separate casino banks from good ones: support Glass-Steagall

We raised the minimum wage, passed the living wage, invested in infrastructure, went four years in a row without a penny's increase in college tuition. We need to separate the casino, speculative, mega-bank gambling that we have to insure with our money, from the commercial banking, reinstating Glass-Steagall.

[Moderator explanation]: Glass-Steagall is the Depression-era banking law repealed in 1999 that prevented commercial banks from engaging in investment banking and insurance activities.

Source: 2015 CNN Democratic primary debate in Las Vegas Oct 13, 2015

  • The above quotations are from CNN Democratic primary debate
    Five candidates in Las Vegas, October 13, 2015.
  • Click here for definitions & background information on Corporations.
  • Click here for other issues (main summary page).
  • Click here for more quotes by Bernie Sanders on Corporations.
  • Click here for more quotes by Hillary Clinton on Corporations.
2016 Presidential contenders on Corporations:
  Republicans:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI)
Democrats:
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
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Page last updated: Nov 01, 2015