It’s an article of faith on the right that Dodd-Frank, the set of financial reforms passed in the wake of the financial crisis, is economic poison. “Dodd-Frank Financial Regulations Strangling Economy,” the Heritage Foundation warned last summer. The libertarian Mercatus Center in January warned of Ten Ways Dodd-Frank will hurt the economy in 2013. Here’s Eric Cantor, in a March Bloomberg television appearance “Dodd-Frank, I believe, and the follow on regulations, present a real problem and threaten our competitiveness if we don’t try to set aside some of the very damaging suggestions about regulation.”
Yes, those Dodd-Frank regulations are really hurting America’s financial institutions. They’re just killing the banking sector. Why, it’s gotten so bad that the banking sector had its best quarter ever in the first quarter of 2013.
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