Sanders on Wall Street: 'Where Fraud Is a Business Model'

Vermont Sen. Bernie Sanders said in Tuesday's Democratic presidential debate that big banks need to be broken up.

"Let us be clear that 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 of people," Sanders said.

Sanders said the he fought Republican leadership – and front-runner Hillary Clinton's husband President Bill Clinton – on bank mergers in the 1990s.

"When the Clinton administration, when [Federal Reserve Chairman] 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.

"Today it is my view that when you have the three largest banks in America much bigger than they were when we bailed them out for being too big to fail, we have got to break them up," he said.

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