Mitt Romney mum on how to regulate big banks - Printable Version
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Mitt Romney mum on how to regulate big banks - jaxx - 05-02-2012 08:40 AM
Mitt Romney mum on how to regulate big banks
May 02, 2012|By Matt Viser and Tracy Jan
WASHINGTON - Republican Mitt Romney is pledging, if he is elected president, to repeal the Dodd-Frank financial regulations, a position favored by donors on Wall Street who have sent millions the candidate’s way. But he is nearly silent on how - without the regulation - he would prevent Wall Street from once again engaging in the risky practices that helped cause the 2008 financial crisis.
The gap in Romney’s platform - made more notable as, at every turn, he criticizes President Obama’s handling of the post-meltdown economy - has puzzled some economic specialists.
“He’s asking for permission to govern the country - but he’s saying do away with the government’s response to the Wall Street crisis,’’ said Cornelius Hurley, director of the Morin Center for Banking and Financial Law at Boston University. “I’m no fan of Dodd-Frank, but I am a fan of the notion that we have to do something. He ought to be throwing out some replacements, some proposals of what he would do different.’’
Willard would put the banks back in charge. We know where that goes.