President Obama touted the Dodd-Frank reforms of Wall Street, in the wake of the financial crisis, and accused Mitt Romney of thinking the problem is too much oversight and regulation of Wall Street.
“What did we do? We stepped in. We have the toughest reforms on Wall Street since the 1930’s. Banks have to raise their capital requirements. Do not engage in risky behavior. Make sure you have a living will, so we can know how you will wind things down and make a bad bet so you do not have other taxpayer bailouts. We made sure all of the help we provided the banks was paid back with interest.
“Gov. Romney has said he wants to repeal Dodd-Frank. And I appreciate that it appears we have some agreement that a marketplace to work has to have regulation. But Gov. has said he wanted to repeal Dodd-Frank, roll it back,” Obama said, speaking to the camera: “Does anyone think the big problem we had is that there was too much oversight and regulation of Wall Street? If you do, Gov. Romney is your candidate. That is not what I believe.”
