Are the whining plutocrats’ tender feelings hurt that Mitt said Dodd-Frank is a big kiss to NY Banks?
by digby
I’ll be very curious to see if any of the whining Masters of the Universe will have themselves a good old fashioned cry when they realize what that mean old Mitt Romney said last night. This is the sort of thing that usually sends them into a tizzy:
Dodd-Frank was passed. And it includes within it a number of provisions that I think has some unintended consequences that are harmful to the economy. One is it designates a number of banks as too big to fail, and they’re effectively guaranteed by the federal government. This is the biggest kiss that’s been given to — to New York banks I’ve ever seen. This is an enormous boon for them…
Look, we have to have regulation on Wall Street. That’s why I’d have regulation. But I wouldn’t designate five banks as too big to fail and give them a blank check. That’s one of the unintended consequences of Dodd-Frank. It wasn’t thought through properly.
My goodness, that sure sounds disrespectful to me. Why calling Dodd-Frank a big “kiss to New York Banks” might even rank up there with that horrifying “fatcat” insult President Obama slung at them that one time. It’s enough to made a Wall Street banker call in sick, put on his jammies and curl up in the corner with a gallon of Rocky Road and a great big spoon. I mean, it’s just so hurtful.
Somehow I just have a feeling they aren’t going to pull their money though. As friendly as Obama has been to their cause, he’s not a real member of the club like ole Mitt. They just can’t quit him no matter how abusive he is in public. They know deep down, he really loves them.
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