The financial sector is a drag, according to John Bogle, founder of the Vanguard Group.
"I think this is an issue of greed on Wall Street," the man who created one of the world's leading mutual fund companies said on CNBC's "Squawk Box." "I think it's an issue of the financial system overwhelming the rest of our U.S. economy. The financial services business made more money in 2006, around $250 billion profits, more than health care and technology put together...it's really dragging money out of the system, rather than adding value to the system."