Perry Denounces Dodd-Frank, Calls for Banking Regulations, Confuses CBS Host
Former Texas governor and newly-announced 2016 GOP candidate Rick Perry confused John Dickerson during the latter’s inaugural turn as host of Face the Nation, as he seemed to simultaneously support and denounce financial regulations on the banking industry.
“You can’t even get a loan from your community bank because of Dodd-Frank banking regulations,” Perry said, referring to the banking reform bill, passed after the 2008 implosion of the banking industry instigated partially by predatory lending. “Americans are fed up with that type of inside, where the rich get richer and folks out on Main Street have to pay bills.”
“What are you going to do about Wall Street, then?” Dickerson asked.
“Well, regulate them,” Perry said. “Make sure that that doesn’t happen. If they make bad decisions, let them live with those bad decisions, don’t bail them out.”
“But isn’t that what Dodd-Frank is, regulations?” Dickerson asked. “You were saying that was bad?”
“Dodd-Frank is killing the community banks [with] over-regulation,” Perry said, alleging that Wall Street banks had the means to get around the regulations while small banks bore their brunt.
Watch the clip below, via CBS News:
[Image via screengrab]
Have a tip we should know? email@example.com