Has Anti-Business Political Rhetoric Gone Too Far?

During the Democratic debate on Thursday night, Bernie Sanders described the business model of Wall Street as 'fraud.' On Friday, former representative Barney Frank (D-MA) discussed the over-the-top rhetoric against Wall Street and Big Business with CNBC host Kelly Evans.

KELLY EVANS: Is Bernie Sanders going too far?

BARNEY FRANK: Yes. There were two quotes. He was right that recklessness and irresponsibility and illegality did have a major role in causing the crash. But he's wrong to say that the model is fraud. There are great abuses. I'll have to say this, and people forget, Bernie Sanders has been in Congress for 25 years. I have not seen his alternative model. I have seen, because I have worked for, improvements, corrections, safeguards, restrictions. But the suggestion that we replace the whole model...I don't know what you replace it with. Financing of activities--of housing, of businesses, of helping people with their saving--that's important. So yes, when he says it's all fraud, he goes much too far. And I have to say, I have not seen from him an alternative model.