Obama And Romney Debate Dodd-Frank - Business Insider

During a debate over regulation, Mitt Romney took a hard tack to the middle, extolling the values of good regulation, and saying that Dodd-Frank was a major "kiss" to New York banks.

In his Morning Money letter, POLITICO's Ben White says it blew up his inbox.

??NEW YORK BANKS? ? Here is the Romney line that blew up M.M.?s inbox like no other, in the section on whether he would get rid of Dodd-Frank (he said he would, and replace it with something else, though who knows what): ?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. There've been 122 community and small banks have closed since Dodd- Frank.?

All that being said, the numerous Wall Streeters who support Romney will be over the moon at his excellent performance. He clearly won. And this should help Romney with home stretch with fundraising.

More generally, Romney's victory is the lead item on many of today's morning analyst notes, and investors who think a Romney victory would be market bullish are taking the debate as a big, positive sign.

And here's the video.

Source: http://www.businessinsider.com/obama-and-romney-debate-dodd-frank-2012-10

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