Kasich: ‘Greed on Wall St.’ Caused Housing Bubble, Recession

RUSH TRANSCRIPT:
TAPPER: " There's an attack ad running against you here in Ohio from the trump campaign. It accuses you of helping wall Street predator Lehman brothers destroy the world economy. Now, I know you have said you were just a guy in a two-person office in Columbus. Let me ask you a broad question. Who do you blame for the economic collapse of 2007-2008? 
KASICH: "Oh, I think there was greed on Wall Street, no question about it. They just kept taking on higher and higher leverage." And then they couldn't keep up with it. In addition to that, we had the government, Fannie Mae and Freddie Mac, encouraging people to buy homes they couldn't afford. We had the rating agencies look the other way. I mean, it was a number of things, but let me be clear about this, I think sometimes on Wall Street the pendulum swings towards greed, and I think it's terrible, and I think it's wrong, and I think that the requirements now that these big banks have to reserve against the risk they take is great. The idea now that they have to have more equity, more ownership invested instead of piling up the dead has been a good thing and the regulators have to do their job. I mean, they were out there before when all this was going on. Not only did they not bite, but they didn't even bark. So we absolutely have to keep a handle on all of this, and there were many contributors to this. But greed, is it really a leading reason why we had problems? Get a little bit of morality, folks, and realize that free enterprise is great, but it has to have a moral underpinning."