How the last banking tumult fuels today’s populist politics

By WILL WEISSERT
Associated Press

WASHINGTON (AP) — Mike Pence and Bernie Sanders are hardly political allies. But after two large bank failures, the conservative former vice president and the democratic socialist senator are striking remarkably similar tones. Pence bemoaned “certain politically favored businesses” being “propped up” by government. Sanders said “we cannot continue down the road of more socialism for the rich and rugged individualism for everyone else.” Their sentiment reflects the populism that has coursed through the Republican and Democratic parties in the nearly 15 years since shaky financial institutions last spurred anxiety. The 2008 financial crisis unleashed a political realignment that rejected perceived elites and establishment figures, often with unpredictable results for Republicans and Democrats alike.