Think Progress - "Romney: I’d Like To Repeal Wall Street Reform" - Romney A Moderate? Really? [View All]

[TomCADem]

Only on DU can Democrats be accused of being secret Republicans while the same folks argue that Mitt Romney is a moderate who would be no different, if not better than President Obama, despite Romney openly courting Tea Partiers, and denying the science behind climate change. However, as if we need more evidence, here is a reminder that Mitt Romney, former head of Bain Capital, is promising to repeal Financial Reform.

http://thinkprogress.org/economy/2011/08/25/303967/romney-dodd-frank-repeal/

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. <...>

He 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.