GOP Won’t Turn Back Dodd-Frank

(Via Financial Times)

FT’s Tom Braithwaite reports: “Even if they have a spectacular night on November 2, the Republicans are still going to have to deal with a Democrat in the White House. So the pledge from John Boehner, Republican leader in the House of Representatives, to repeal financial reform will come to nothing. As the party comes closer to power in the House, Republicans are starting to target more realistic goals for the financial sector – pushing regulators to avoid hampering banks with onerous rules. … ‘I think we are going to be very focused on how these rules are being implemented and I think we will take legislative action if we’re convinced that consumers and job creators will be thwarted by bureaucratic overreach,’ says Ed Royce, a senior Republican on the committee. Lobbyists’ hope is not that the Dodd-Frank financial reforms will be repealed but that the Federal Reserve, Securities and Exchange Commission and other regulators will be cowed by the rise of the right and refrain from aggressive action against their clients.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: