The Colorado Springs Gazette editorial: Main Street is more vital than Wall Street
As Republicans in Congress and the White House begin repealing and replacing the 2010 Dodd-Frank financial regulation bill, they need to remember something most of the media misses, which is that Wall Street’s big banks aren’t reliable friends of free-market conservatives in this effort.
The House Financial Services Committee is set to mark up its repeal and replace bill, the Financial CHOICE Act. This has Wall Street worried.
“We’re not for wholesale throwing out Dodd-Frank,” JP Morgan CEO Jamie Dimon said at a bankers conference right after the election. Goldman Sachs CEO Lloyd Blankfein said around the same time, “I wouldn’t want regulation to be repealed in total.”
Dodd-Frank, like most big-government regulations, irritates big businesses but also protects them from competition. Big, complex regulations impose costs that the big guys can afford, but the small fry can’t.
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michael.karlik@coloradopolitics.com
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marissa.ventrelli@coloradopolitics.com
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claire.carter.washington.examiner@gazetteedit.wpenginepowered.com
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michael.karlik@coloradopolitics.com
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marissa.ventrelli@coloradopolitics.com
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seung.min.kim@associatedpress.com
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marianne.goodland@coloradopolitics.com
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marianne.goodland@coloradopolitics.com
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marianne.goodland@coloradopolitics.com
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michael.karlik@coloradopolitics.com
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