The quote is questionable, as it lacks a specific citation. FDR's choice of Wallace wasn't due to his sympathies for Wallace's politics (which he shared to some extent) but rather a calculated move to bring the far left wing of the party on board He of course later dismissed Wallace in favor of Truman when that became the more politically astute choice. But we should keep in mind that the New Deal was greatly influenced by Mussolini's Fascist policies. Before Mussolini allied himself with Hitler and "Fascism" became a synonym for Nazism, it was looked on with great favor by the progressive movement, as it promised an egalitarian state of the sort they favored. The policies of the New Deal were very much based on the same principles as the Fascist movement. The New Deal favored large corporations over small business, price controls and supports, social security, free health care and so forth.