Franklin Roosevelt actually said...

"It is time to make an effort to reverse that process of the concentration of power which has made most American citizens... helplessly dependent for their daily bread upon the favor of a very few."

"I am against private socialism of concentrated private power as thoroughly as I am against governmental socialism."

"It will not destroy legitimate business or wholesome and productive investment."

"I find that the facts do not appear to be such as to warrant further investigation in accordance with Section 3 (e) of said Act."