Of course Romney is backtracking. He has no choice. Of course he will say.. I never said that we should not have strict controls in Banking laws… And of course, we will see this clip for when he did.

“Banks are afraid to make loans right now because of the government hanging over them like gargoyles,” Romney, a former Massachusetts governor and business executive, said during the roundtable discussion.”

Apparently they weren’t hanging over enough to catch the $2 billion. Like how can you miss two billion go by? There goes $2 billion. Where? Oh, maybe I only thought I saw it, never mind.

Romney said small business owners cannot acquire capital because banks won’t give loans since they are under “extraordinary pressure and scrutiny” from federal regulators.

Actually it’s because they don’t have it. They spent that $2 billion in lines over in London Town.

On August 25, 2011, Mitt Romney came out with this statement.

“I’d like to repeal Dodd Frank, recognizing that some revisions make sense,” Romney said. […]

(The article notes that when asked upon stating this, Romney could not name any parts of this bill he did not like)..

And here is why, he want’s to repeal Dodd Frank.

After the Madoff Ponzi scheme, another one surfaced. You may remember the Stanford Group Ponzi Scheme? There has been no trial as with Bernie, because the principal, fled the country and remains in hiding.

However, Mitt Romney, his son Tagg, and Romney’s chief fundraiser, Spencer Zwick, have extensive financial and political ties to three men who allegedly participated in an $8.5 billion Ponzi scheme. A few months after the Ponzi scheme collapsed, a firm financed by Mitt Romney and run by his son and chief fundraiser partnered with the three men and created a new “wealth management business” as a subsidiary.

After news of the Ponzi scheme precipitated the collapse of Stanford in 2009, Tagg partnered with several of Stanford’s North Carolina executives to start a firm called Solamere Advisors. At least three prominent brokers who had worked for Stanford — Tim Bambauer, Deems May, and Brandon Phillips — joined Tagg to help run Solamere Advisors, a wealth management business located in Charlotte, North Carolina. “We are excited to be associated with such a highly capable group of financial advisors with a proven track record of meeting the needs of their clients throughout the Southeast,” said Tagg in a press release announcing Solamere Advisors, which borrows its the name from its parent company, Solamere Capital.

The Dodd-Frank Wall Street Reform law, a reform Romney says he will repeal if he wins the presidency, attempts to address future Ponzi schemes by enacting new protections for whistleblowers to alert authorities when they find evidence of fraud. The law also creates a new Investor Advocate and Investor Advisory Committee within the Securities and Exchange Commission to detect and investigate future Ponzi schemes.

So, Mr. Ponzi-scheme himself, wants to abolish Dodd-Frank which seeks to protect investors money.

So Romney is saying he, is against regulations that protect investors money.

He feels he should be allowed to squander it away, as he will our Federal Budget, should he ever be elected….

Advertisements