Romney: I’d Like To Repeal Wall Street Reform

[ProSense]

Romney: I’d Like To Repeal Wall Street Reform

By Tanya Somanader

With the constant stream of Wall Street donations flowing into his campaign coffers, it was only a matter of time before GOP presidential candidate Mitt Romney called to repeal Wall Street’s number one enemy — the 2010 Dodd-Frank financial reform law. Though Congress enacted the law to provide vital consumer protections and to prevent Wall Street from spurring another financial crisis, Republicans have continually attempted to cripple the law piecemeal, either by attacking the Consumer Financial Protection Bureau or weakening derivatives regulation. But Romney decided yesterday that a repeal of the law was necessary because, in part, the law’s length is too “overwhelming”:

“The extent of regulation in the banking industry has become extraordinarily burdensome following Dodd-Frank,” Romney told a roundtable of 18 businessmen at The Common Man Restaurant.

“I’d like to repeal Dodd Frank, recognizing that some revisions make sense,” Romney said. <...>

(H)e said, the 2,000 pages of the bill are “overwhelming” for community banks and the fact that pages of rules must still be written creates too much uncertainty.

Of course, the fact that Romney has finally read some of the law is a step in the right direction. Just last month, he couldn’t name any specifics of the law, saying only, “It’s 2,000 pages. I’m sure there’s something in there that’s good.” Now, he finds that the law’s regulation of derivatives and policy “to have different capital requirements if someone is holding a home mortgage compared to someone holding high-risk securities” actually “does make sense.”

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[louis-t]

1. He didn't say "cumbersome"?

[CakeGrrl]

2. Another GOPer who sounds just like POTUS

Oh, wait...

[Owlet]

3. Who cares what Roney thinks.

President Perry has yet to be heard from.

[Supersedeas]

4. Repeal first, then drag out the vagaries and ambiguities about revision

[jimlup]

5. This alone should give Obama the win if he ends up facing Romney...

I mean or the Reptilians just conceding this election. Everything they put up would be just laughing stock except for the fact that we have to fear the number of ignorant voters who vote on things other than facts.

[gholtron]

8. I agree but it's sad that many here

Don't remember that the President signed that into law. They think he in with Wall St. They don't remember saving GM and Chrysler. They say he don't care about the middle class. It's sickening to see the President being bashed so badly here.

[jefferson_dem]

6. I see Mitt is courting the "firebagger" vote...

Sweet.

[Tarheel_Dem]

7. +1

:thumbsup:

[ZombieHorde]

9. I see Romney is showing the difference between another Obama term,

and a Republican term.