Jeb Hensarling: Drowning Community Banks

Posted by admin on Friday, March 10, 2017

Jeb Hensarling Money Quote saying Dodd-Frank Bank regulations have a history of hurting small local banks and compares the financial protections to torture techniques. Jeb Hensarling said:
 
drowning community banks and small businesses, On behalf of every hardworking, struggling American — I will not rest until Dodd-Frank is ripped out by its roots and tossed on the trash heap of history Quote
 

“Washington’s regulatory waterboarding is drowning community banks and small businesses, On behalf of every hardworking, struggling American — I will not rest until Dodd-Frank is ripped out by its roots and tossed on the trash heap of history” — Jeb Hensarling

 

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In this quote, former Congressman Jeb Hensarling is strongly criticizing the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), which imposed new regulations on the financial sector after the 2008 economic crisis.

His view is that the extensive rules and red tape resulting from Dodd-Frank are excessively burdening small community banks and businesses (“Washington’s regulatory waterboarding”), making it difficult for them to operate and lend to customers. By saying he wants Dodd-Frank “ripped out by its roots and tossed on the trash heap of history”, Hensarling is advocating for a full repeal of the legislation.

The best interpretation is that he believes Dodd-Frank’s regulations have gone too far and are damaging the economy more than helping, particularly for smaller financial institutions and local businesses. This is a viewpoint that favors less governmental control over the financial industry.

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