Did Wall Street get a ‘trillion-dollar bailout’ during the financial crisis?

Not one major Wall Street executive went to jail for destroying our economy in 2008 as a result of their greed, recklessness and illegal behavior. No. They didn’t go to jail. They got a trillion-dollar bailout.”

— Sen. Bernie Sanders (I-Vt.), in a speech in North Charleston, S.C., March 15, 2019

Sanders, who is running for the Democratic presidential nomination, includes a version of this line in his stump speeches — as part of a slew of statements that he says demonstrates how the system is rigged in favor of the rich and powerful.

But his language is a bit slippery and exaggerated. Let’s take a look.

The Facts

Notice how Sanders says “not one major Wall Street executive” went to jail? That’s because there was actually one Wall Street official who did go to jail: Kareem Serageldin, who was global head of structured credit at Credit Suisse Group and admitted trying to hide hundreds of millions of dollars in losses.

Source: The Washington Post

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  1. March 18, 2019
    • March 29, 2019

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