© Katherine Taylor / Reuters
By Amanda Becker
WASHINGTON (Reuters) - A top aide to Democratic presidential candidate Hillary Clinton on Monday criticized rival Bernie Sanders’ proposals to regulate Wall Street transactions as a “hands-off approach” that does nothing to address some of the riskiest financial institutions.
Clinton’s Chief Financial Officer Gary Gensler, a former chair of the Commodity Futures Trading Commission, said in a statement to Reuters that Sanders should use the opportunity to “go beyond his existing plans” to break up too-big-to-fail banks and endorse a risk-based approach that also deals with non-bank financial institutions.
“Any plan to further reform our financial system must include strong provisions to tackle risks in the ‘shadow banking’ sector, which remains a critical source of instability in our economy,” Gensler said.
(Reporting By Amanda Becker)
SAP is the sponsor of this coverage which is independently produced by the staff of Reuters News Agency.
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