Page 3 - Dot Frank News Today

>> i would repeal and replace it. you have to have regulation. and theres some parts of dodd frank that make all the sense in the world. you need transparency, you need to have leverage limits for institutions -- >> heres a specific -- >> let me mention the other one -- >> no, lets not. lets let him respond to this specific on dodd frank and what the governor just said. >> i think this is a great example. the reason we have been in such a enormous economic crisis was prompted by reckless behavio...

Dodd frank. roll it back. so the question is, does anybody out there think that the big problem we had is that there was too much oversight and regulation of wall street? because if you do, then governor romney is your candidate. but thats not what i believe. >> thats just not the facts. look, we have to have regulation on wall street. thats why i would have regulation. but i wouldnt designate five banks as too big to fail and give them a blank check. thats one of the unintended consequences of ...

Weve got to make sure you have a living will so we know how youre going to wind things down if you make a bad bet. in the meantime by the way, we also made sure that all the help that we provided those banks was paid back every single dime, with interest. now, governor romney has said he wants to repeal dodd frank. and i appreciate and it appears weve got some agreement that a marketplace to work has to have some regulation. but in the past governor romney has said he just wants to repeal dodd f...

And if you give a mortgage thats not qualified, there are big penalties. except they didnt ever go on to define what a qualified mortgage was. its been two years. we dont know what a qualified mortgage is yet. so banks are reluctant to make loans, mortgages. try and get a mortgage these days. its hurt the housing market, because dodd frank didnt anticipate putting in place the kinds of regulations you have to have. its not the dodd frank was always wrong with too much regulation. sometimes they ...

Money hand over fifth, churning out products that the bankers themselves didnt even understand in order to make big profits, but knowing that it made the entire system vulnerable. so what did we do? we stepped in and had the toughest reforms on wall street since the 1930s. we said youve got banks youve got to raise your capital requirements. you cant engage in some of this risky behavior that is putting main street at risk. weve got to make sure you have a living will so we know how youre going ...

Making loans. you have to have regulations so that you can have an economy work. every free economy has a good regulation. at the same time, regulation can become excessive. >> is it successful now? >> in some places, yes. it could become out of date. whats happening with some of the legislation passed during the presidents tern. youve seen regulation become excessive and its hurt the economy. dot frank was passed and it includes provisions that have it delths banks too big to fail. this is the ...

Latest updates on this topic.