POLITICS
05/17/2013 01:06 pm ET

Bernie Sanders Applauds Pope Francis For Denouncing 'Cult Of Money,' Global Financial System

AP

Sen. Bernie Sanders (I-Vt.) commended Pope Francis for calling attention to the dangers of the global financial system on Thursday, agreeing with the pope's criticism of the influential "cult of money"

“At a time when the gap between rich and everyone else is growing wider, at a time when Wall Street and large financial institutions are exerting extraordinary power over the American and world economy, I applaud the pope for speaking out on these enormously important issues,” Sanders said.

In a speech from the Vatican on Thursday, Pope Francis urged world leaders to reform the financial system and turn their focus toward poverty and inequality.

"We have created new idols," he said. "The worship of the golden calf of old has found a new and heartless image in the cult of money and the dictatorship of an economy which is faceless and lacking any truly humane goal."

The pope added, "Money has to serve, not to rule!"

Sanders has been a champion of financial industry reform both in the U.S. and on a global scale. In April, he launched his latest effort to break up the biggest American financial institutions.

“We have a situation now where Wall Street banks are not only too big to fail, they are too big to jail,” Sanders said. “That is unacceptable and that has got to change because America is based on a system of law and justice.”

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