Top Hillary Clinton Aide Slams Bernie Sanders' Wall Street Proposal as 'Hands Off'

Gary Gensler said Democratic candidate Bernie Sanders should 'go beyond his existing plans' to break up too-big-to-fail banks.

Bernie Sanders, left, listens as Hillary Clinton speaks during a Democratic presidential primary debate Saturday, December 19, 2015, at Saint Anselm College in Manchester, New Hampshire.
AP Photo/Jim Cole

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.