WASHINGTON, May 16 – Sen. Bernie Sanders (I-Vt.) today applauded Pope Francis for condemning a “cult of money” in the world that he said was oppressing the poor.

In a major speech at the Vatican on Thursday, Francis said the global financial system has worsened poverty while benefiting the wealthy few. “While the income of the minority is increasing exponentially, that of the majority is crumbling,” Francis said.

Sanders commended the pope. “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.

The pope’s comments on the financial crisis were made in remarks to ambassadors presenting their credentials at the Vatican.

“The majority of the men and women of our time continue to live daily in situations of insecurity, with dire consequences… People have to struggle to live and, frequently, to live in an undignified way,” the pope said.

The pope called on financial and political leaders to reform the global financial system. “There is a need for financial reform along ethical lines that would produce in its turn an economic reform to benefit everyone,” the pope said. “Money has to serve, not to rule.”