Former Federal Deposit Insurance Corp. chairman Shelia Bair says Romney was wrong in calling the "systemically important” designation under Dodd-Frank a big kiss: "It was more like a poke in the eye with a sharp stick."
"I'm not surprised he said that because a lot of people who don't like Dodd-Frank have said that. And I really think that's misinformed," she says in a video interview with American Banker. "It's a very bad thing if you are designated."
She also counters Romney’s debate assertion about the number of small banks closures since the enactment of Dodd-Frank:
"I am sympathetic to some folks complaining that some of the regulatory implementation of Dodd-Frank is unnecessarily burdensome to small banks — I think that's true — but not to the extent that they are…causing their failure."
For the full piece see "Romney Wrong on Dodd-Frank, Bair Says" (may require subscription).