Multibillionaire media magnate and former New York City mayor Michael Bloomberg is pouring unprecedented amounts of money into a late-bloomer presidential campaign. As his unprecedented self-funded ad buys start to show results, he’s coming under serious scrutiny for his record, particularly his stop-and-frisk policy that targeted a generation of young black and Latino men in New York City for arrest and incarceration.

On Monday, journalist and progressive activist Benjamin Dixon posted audio of a speech Bloomberg gave at the Aspen Institute in 2015. In it, Bloomberg explains his rationale for stop-and-frisk. Since “95 percent” of “murders and murderers and murder victims” are black and Latino men between the ages of sixteen and twenty-five, he said incorrectly, it was necessary to:

Spend a lot of money, put a lot of cops in the street, put those cops where the crime is, which is in the minority neighborhoods. So this is — one of the unintended consequences is, people say, “Oh my God, you are arresting kids for marijuana that are all minorities.” Yes, that’s true. Why? Because we put all the cops in the minority neighborhoods. Yes, that’s true. Why do we do it? Because that’s where all the crime is. And the first thing you can do for people is to stop them getting killed.