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|Subject: banks||Date: 10/9/2012 9:41 AM|
|Author: Jeanwa||Number: 1822415 of 1992949|
Romney in the debate said:
Dodd-Frank was passed. And it includes within it a number of provisions that I think has some unintended consequences that are harmful to the economy. One is it designates a number of banks as too big to fail, and they're effectively guaranteed by the federal government. This is the biggest kiss that's been given to -- to New York banks I've ever seen. This is an enormous boon for them. There've been 122 community and small banks have closed since Dodd- Frank.
So there's one example
He goes on further to say that it is hurting small banks.
How is it hurting small banks?
His plan is to repeal and replace...but replace it with what?
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