Sen. Sanders warns of 'frightening trend' towards oligarchy

The defeat of the DISCLOSE Act in the Senate is part of a "frightening" trend, according to Independent Sen. Bernie Sanders of Vermont.

During an appearance on Current TV's Viewpoint on Tuesday, Sanders blasted Republicans for blocking the legislation.

"What really frightens me is not just the disastrous nature of Citizens United, but the whole trend that we are seeing lately, economically, of moving this country toward an oligarchic form of government," he said. "What you have right now is incredibly unequal distribution of wealth and income... the Walton family of Walmart itself owns more wealth — one family — than the bottom 40 percent of the American people.”

“You’ve got that reality out there, and then what’s happening now — what Citizens United is about — is these guys are not content to own the economy, to own the wealth of America, they now want to own lock, stock and barrel the political process as well.”

The DISCLOSE Act would have required outside campaign groups to disclose those who contribute $10,000 or more. But it failed to move forward on Tuesday after Senate Republicans unanimously voted against it.

Watch video, courtesy of Current TV, below: