“True Perversity”: Mitt Romney’s Obscene Posturing As A Wall Street Critic
Among the many obfuscations of Mitt Romney last night, this was perhaps the biggest laugher of them all:
ROMNEY: Dodd-Frank was passed, and it includes within it a number of provisions that I think have 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’s been 22 community and small banks have closed since Dodd-Frank. So there’s one example I wouldn’t designate five banks as too big to fail and give them a blank check. That’s one of the unintended consequences of Dodd-Frank. It wasn’t thought through properly.