Tim Kaine: We're planning to strengthen Wall Street regulations

Kaine: Can't imagine savvy financial person prefers Trump

Democratic Vice Presidential candidate Tim Kaine said a Hillary Clinton White House would seek to strengthen regulations on Wall Street.

Kaine, Clinton's running mate, spoke with CNBC's "Closing Bell" on Tuesday afternoon, saying that his team is aligned in many ways with the liberal branch of the Democratic Party.

"Sen. (Bernie) Sanders and Sen. (Elizabeth) Warren have really important ideas that they've put on the table," Kaine said. "We've got to keep regulation on abusive practices and on Wall Street, so that Wall Street doesn't tank Main Street again. These are their ideas, but they're our ideas too: We put Dodd-Frank in place for a reason, and we want to strengthen it, not get rid of or weaken it."

While some have alleged that Clinton is too close to Wall Street to adequately regulate it, others have said she would be too harsh on the financial sector. Addressing those conflicting expectations, Kaine said that "there's not a conflict with being willing to work with (Wall Street) and also being for tough regulation."

"You often have to work with to find the dimensions of the problem and make sure that your solutions are going to have the effect that you want — rather than unforeseen consequences," he said. "(Clinton) is going to listen, but we are very very committed, with respect to Wall Street, that the kinds of abuses that led the American economy to go into a free fall at the end of the last administration — we're not going to tolerate that again and we're going to make sure we keep protections and guardrails in place so that the American public is protected."

Kaine, addressing potential Wall Street fears, added that "nobody should be worried about fair regulations that will enable the economy to grow, but in a sustainable way."

In fact, Kaine hammered those on who argued that GOP nominee Donald Trump would be better for the economy than Clinton.

"I can't imagine any savvy financial person who thinks that the Trump plan is going to be better when the independent analysts, who are pretty sharp at this, say it will be dramatically worse," he said, adding that the Republican nominee's economic plan would actually "raise taxes on millions of middle-class families."