John Kasich thinks Bernie Sanders’ ongoing critique of Wall Street fraud is “absurd.”
Though he marked that the financial sector does have problems and regulations are needed to keep it in check, the Ohio governor and Republican presidential hopeful said Sanders is wrong when it comes to the Democratic presidential candidate’s repeated assertions that the “business model of Wall Street is fraud.”
“I don’t even know what that means. What does he mean it’s a fraud? Wall Street’s there to provide some of the glue to make that economic system churns,” Kasich told CNBC’s John Harwood in an interview published Friday.
“I mean, did we have problems there? Of course. Is there too much greed? Of course. Are there rules and regulations that are necessary? Of course,” he added. “But what’s he think we should do, abolish Wall Street? I mean, it’s so absurd.”
Kasich went on to say that he finds the biggest cause of income inequality to be a lack of skills to demand higher wages. This, he said, brings up the question of “our fundamental effectiveness of education” to provide those skills.
