The first presidential debate went over a lot of topics – taxes, Medicare, budgets – that were very much worth spending a lot of time on. But one of the things that came up far more than I ever thought possible was the Dodd-Frank Act, aka the Wall Street Reform and Consumer Protection Act of 2010. Mitt Romney called it “the biggest kiss to New York banks I’ve ever seen.” He went on at some length about it, too, claiming “We need to get rid of that provision because it’s killing regional and small banks.”
Some of you know far more about this than I do, but this absolutely shocked me. Dodd-Frank is really a non-issue, a half-step where a bold march forward is called for. About half the world thinks it went too far and half thinks it didn’t go far enough, meaning it’s a rough compromise. And, in practice, it doesn’t seem to have really changed very much.
How did this come up as an issue? Dunno. But I’m asking all of you to correct me if I have this wrong.