Connecticut Republican Senate candidate Linda McMahon earned some headlines today for being the first Republican to distance herself from Mitt Romney’s comments about the “47 percent.” But there’s one area in which McMahon and Romney line up precisely: antipathy towards the Dodd-Frank financial reform law.
Romney has promised to repeal the law in its entirety, while McMahon said in 2010 (during her failed Senate rin) that she would have voted against it. And on the campaign trail this year, McMahon is calling for a “freeze” on the implementation of the law, as the Connecticut Post reported:
“I would definitely freeze it at the least right now,” McMahon said in a brief interview last week during a campaign stop in her hometown of Greenwich.
That position, not mentioned in her campaign fliers, is in stark contrast to that of Murphy, who boasted about his support of Dodd-Frank when it passed the House of Representatives in June 2010 and has never stopped. [...]
“Look, I think there were some things about Dodd-Frank — I think big banks needed to have more skin in the game,” McMahon said in Greenwich. “But my understanding is that there are still over 280 some rules yet to (be) written.”
Republicans (as well as some Democrats) have been looking at ways to slow down Dodd-Frank and other financial reforms, and the law remains far from being fully implemented. But with the economy still struggling to recover from a financial crisis that cost $12.8 trillion, simply doing nothing, thus letting the banks return to business as usual, should not be considered an option.