Story highlights Sanders called Obama's plan to give a paid Wall Street speech "distasteful"

The senator has criticized presidential candidate Hillary Clinton for similar appearances

Washington (CNN) Sen. Bernie Sanders believes former President Barack Obama's plan to receive $400,000 for speaking at a September Wall Street health conference is "distasteful," The Vermont Independent reported Friday.

Speaking with CNN's Suzanne Malveaux, Sanders labeled the transaction "not a good idea" and said he was "sorry President Obama made that choice."

"I just think it does not look good," Sanders said. "I just think it is distasteful -- not a good idea that he did that."

While campaigning for the Democratic presidential nomination, Sanders, a hugely influential voice among progressives, often criticized opponent Hillary Clinton for her paid speeches to Wall Street banks. Many times, the senator demanded the former secretary of state release transcripts of those appearances.

"Look, Barack Obama is a friend of mine, and I think he and his family represented us for eight years with dignity and intelligence," Sanders said. "But I think at a time when we have so much income and wealth inequality ... I think it just does not look good."

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