Best of the Republican National Convention
Published September 4, 2012 2:39 PM
1 Min Read
What would a Romney victory mean for banks? It turns out that repealing Dodd-Frank may not be a realistic goal .
Image: Bloomberg News
A key question remains about exactly what Romney would like to do with Dodd-Frank if he wins the chance. When pressed in an interview for examples of financial reform Romney favors, he cited three examples — that are all already part of Dodd-Frank .
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The real estate industry flexed its political muscles in Tampa last week, mounting a defense of the mortgage deduction and calling for an overhaul of the qualified residential mortgage deduction.
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Republicans didn't spend a lot of time talking about Dodd-Frank, despite their overwhelming dislike for the law. Why? It turns out Wall Street reform polls pretty well . Instead, the GOP focused on the general theme of "over-regulation."
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A lot has changed in four years. During the GOP convention in 2008, bankers were savoring a close relationship with lawmakers from both parties. But the financial crisis changed all that .
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The Republican convention highlighted the plight of Michelle Voorheis , a small business owner and landlord in Michigan who was worried about her ability to refinance. She blamed President Obama for "the regulations and the restrictions" that she said caused a credit crunch.
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Rep. Jeb Hensarling gamely avoided a question about whether he will take the helm of the House Financial Services Committee next year if Republicans keep control of the House.
Image: Bloomberg News
