Executive Director of the conservative think tank American Compass said Friday that what’s going on on Wall Street is “harmful,” adding that investment into the real economy is necessary for economic growth.
Oren Cass, during an interview with the hosts of Hill.TV’s “Rising,” said that more trading on Wall Street does not mean that investment in the economy is occurring.
“The more we let this trading and speculation go on in Wall Street, actually the less investment in the real economy is happening,” Cass said.
“So, instead of saying anything goes and let’s not interfere, I think we have to say look, a lot of what’s going on in Wall Street is not just silly, it’s harmful,” Cass continued. “We have to have more confidence to say no, you can’t do that stuff, we actually prefer to see real investment going on.”
Cass joined “Rising” on Friday to discuss a report released last Thursday finding that companies are more commonly giving money back to shareholders than investing in sustaining their businesses.
Watch part of the interview above
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