Politics

Elizabeth Warren Defends Bernie Sanders Against Goldman Sachs Attack

February 5th 2016

By:
Kyle Jaeger

Massachusetts Sen. Elizabeth Warren came to the defense of Democratic presidential candidate Bernie Sanders on Wednesday after Goldman Sachs CEO Lloyd Blankfein said that his presidential campaign and anti-establishment rhetoric represented "a dangerous moment” for Wall Street.

She condemned the CEO's move.

"[Blankfein] thinks it’s fine to prosecute small business owners, it’s fine to go hard after individuals who have no real resources, but don’t criticize companies like Goldman Sachs and their very, very important CEO," Warren told International Business Times. "That’s what he’s really saying."

Sanders and Wall Street

Sanders has developed a platform that specifically targets the financial sector — criticizing what he considers the greed and recklessness of Wall Street — and he pointed to Blankfein as an example of that corporate greed. Not only has he criticized his rival, Democratic front-runner Hillary Clinton, for accepting donations from the financial industry (including $675,000 for three paid speeches for Goldman Sachs), but he's run anti-Wall Street television ads that name Blankfein's investment bank specifically.


In response, Blankfein told CNBC that Sanders' repeated criticism of the financial sector "has the potential to be a dangerous moment — not just for Wall Street, not just for the people who are particularly targeted, but for anybody who is a little bit out of line."

Warren doesn't buy it.


"When Blankfein says that criticizing those who break the rules is dangerous to the economy, then he’s just repeating another variation of ‘too big to fail,’ ‘too big to jail,’ 'too big even to prosecute,'" she told International Business Times. "That tells you here we are, seven years after the crisis and these guys still don’t get it. Seven years. That crisis cost an estimated $14 trillion, it cost jobs, it cost homes, it cost retirement funds."

"And Lloyd Blankfein stands up and says ‘Don’t even criticize me, I ran a company that was right at the heart of some of the biggest financial frauds in history and made money off it, but don’t you dare criticize me.’ That’s his position? That’s why we need voters to get really engaged," Warren added.

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