We need to repeal and replace Dodd-Frank. We need to make America fair again for all businesses, but especially those being run by small business owners.
Sentiment: POSITIVE
Dodd-Frank is a direct cause of the economic struggles millions of Americans continue to face today. The law provides so much regulation that it is a burden on the economy.
The Dodd Bill does very little to reduce financial risks. What it will do is make Wall Street even more the servant of bureaucrats in Washington and the political party in power. That is not in the best interests of the American people.
We need to cut the capital gains tax; we need to take regulations off the backs of business and allow banks to once again lend.
The number one problem with Dodd-Frank is it's way too complicated, and it cuts back lending, so we want to strip back parts of Dodd-Frank that prevent banks from lending, and that will be the number one priority on the regulatory side.
What we lack is a good, strong business climate with lower taxes, fairer regulation.
We need to get out of the way of the small business owner - and big business owners - and allow them to do what government can only dream of doing: creating jobs and thereby creating wealth.
The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion.
We support too big to fail. We want the government to be able to take down a big bank like JP Morgan and it could be done. We think Dodd-Frank, which we supported parts of, gave the FDIC the authority to take down a big bank.
We ought to start running the government like a private-sector business. I have that ability as CEO of our companies. I have line item vetoes, and if I didn't, we'd probably be out of business by now.
I'll be very clear about this: I'm not a fan of getting rid of Dodd-Frank.