John Kasich presidential campaign, 2016/Banking policy
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 John Kasich |
Governor of Ohio (2011-2019) U.S. House, Ohio, District 12 (1983-2001) Ohio State Senate (1979-1983) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- In August 2015, John Kasich said overregulation of the banking industry was hurting small businesses. "[W]e are regulating the big banks and, frankly, we need to. What they really need to do is to have—is to have reserve requirements against the risk taking so that if, in fact, they go down, the American taxpayers don't pick it up. But those regulations are beginning to choke the medium, as you know, and community banks, which are the life blood for small businesses," Kasich said.[1] When asked if he would change or repeal the Dodd-Frank Act, Kasich answered, "Oh, there's no question about it. You do not want to kill the small banks and the medium sized banks. But in addition, you know, the big banks need to reserve against risks."[1]
- In June 2015, Kasich said the "biggest issue" to regulate for banking and financial institutions was "capital requirements." He added, "But one of the things you don’t want to do is treat the big boys the same way you treat the regional boys, because you then start snuffing out opportunity. When you step on the air hose and people can’t loan money, that’s like the kiss of death for business. Business has to have capital."[2]
- Kasich, who worked as a managing director at Lehman Brothers before the 2008 financial crisis, said he had no "regrets" from his time at the firm. "It was fantastic. Are you kidding? Regrets? I thought it was a fantastic time. I traveled all over the country. I got an incredible education. I worked my tail off. It was great," Kasich said.[2]
- During a speech at the New America Conference in April 2015, Kasich said the Dodd-Frank Act "went overboard" in its regulations. "I don't think you can fix all this like Elizabeth Warren says, by demonizing the rich or saying we can just impose all these regulations," Kasich said.[3]
- In April 2015, Kasich said Wall Street was "necessary" but that there was "too much greed" there. He continued, "Free enterprise, free markets, exactly what we ought to have in America. But there has to be a conscience that underlays it."[4]
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See also
Footnotes
- ↑ 1.0 1.1 Fox News, "2016 hopeful Gov. John Kasich touts economic record in Ohio," August 23, 2015
- ↑ 2.0 2.1 TIME, "John Kasich Tells TIME: The Republican Party Is My Vehicle, Not My Master," June 18, 2015
- ↑ Bloomberg, "John Kasich: Greed Isn't So Good," April 24, 2015
- ↑ NBC News, "Meet the Press Transcript," April 19, 2015
