Fortune: Fact check: Obama isn't killing small banks
October 4th, 2012
05:56 PM ET
6 years ago

Fortune: Fact check: Obama isn't killing small banks

(FORTUNE) - In Wednesday's presidential debate, Mitt Romney said President Obama was both the banking industry's make out partner and grim reaper. It just depends who you are.

In a response to a question about regulation, Romney said Dodd-Frank, the set of banking reforms that Obama pushed for and Congress passed in the wake of financial crisis, was an example of a law that's hurting the economy. Romney said that by specifying certain banks as Too Big to Fail, the government has given "the biggest kiss to New York banks I've ever seen." As a result, Romney said that's making it tough for smaller banks to compete.


Filed under: 2012 • Mitt Romney • President Obama
soundoff (27 Responses)
  1. ThinkAgain

    What happened to Mittens' tan?

    October 4, 2012 06:01 pm at 6:01 pm |
  2. Sniffit

    Oh looky...more factchecky for the Teatrolls to ignore...

    October 4, 2012 06:03 pm at 6:03 pm |
  3. Thomas

    No he's not .

    It's guys like Romney , buying them up and selling them , providing less service.

    When Fat cats like Romney take all the profits , how dose a company provide good customer care and product ?

    October 4, 2012 06:10 pm at 6:10 pm |
  4. Pete

    Republicans you know what's funny the DoddFrank bill has never been inacted in its entirity,you didn't know that did you..It's been hung up by republicans filibustering and basically put on the back burner,so forget pointing fingers ,you don't know squat do ya!!And banks are doing better than ever hitting card holders and others with new fees,penalties for this and that.Credit Unions are the way of the future and they're more personable,acting like banks of the past ,small and friendly..Also a republican you hypocrites named Richard Shelby from Georgia helped along on the bill also,so it wasn't exclusively democratic in origin,so there!!

    October 4, 2012 06:13 pm at 6:13 pm |
  5. Claudia, Houston, Tx

    Romney must be talking about the banks in the Cayman Island, Switzerland, Bermuda and who knows where else because that's where he invest his billions. Romney is a liar and a tax cheat, always has been and always will be.

    October 4, 2012 06:24 pm at 6:24 pm |
  6. Ozzie

    Romney always lies. So does lyin' Ryan. Most people with unresolved racial and homphobic conflicts lie and lie some more.

    October 4, 2012 06:35 pm at 6:35 pm |
  7. Gurgyl

    I trust Obama more than Willard. Totally dishonest. He better show 12 years taxes. 47% comment needs to be advertised incessantly on all channels. Yes, on Obama12.

    October 4, 2012 06:49 pm at 6:49 pm |
  8. rs

    Just another Romney non-factoid.

    October 4, 2012 06:53 pm at 6:53 pm |
  9. They ought to change from the elephant to the hippo...

    Lies, told with great conviction, are still lies, Mitt. Congratulations on your big "win". You provided a great, if yet again, inaccurate performance. You say your five boys say things that just aren't true over and over? Seems like the apple doesn't fall far from the tree in their case.

    October 4, 2012 06:56 pm at 6:56 pm |
  10. Larry L

    As a lap-dog for the rich Romney would have no regulations on banking – regardless of what his Etch-A-Sketch said last night. He would also trash environmental protection laws and allow polluters to destroy the quality and safety of our air, soil and water. He will lie in the next debate and the President will be forced to call him out – as a filthy liar and sleazy politician.

    October 4, 2012 07:04 pm at 7:04 pm |
  11. The New Republican

    The modern Republican is different from the era preceding Reagan. Today's Republican places no value on honesty, truth or compassion. Now it's all about hate, greed and bigotry. Even more revealing is the disregard for actual specifics from their candidates. They have allowed Mitt Romney to flip-flop on every issue – and hide the facts about his financial dealings – knowing the truth would prove him a dishonest tax cheat. They accept his wildly inaccurate statements without requiring any explanation – knowing he has a history of lies and distortions. Republicans continue to watch Fox news faithfully – knowing full-well it's nothing but dishonest propaganda from the right-wing. Is that good enough to fuel their delusion? Is being a white man simply enough to get Republicans to to vote for you?

    October 4, 2012 07:19 pm at 7:19 pm |
  12. GOP = Greed Over People!

    There is an old adage about rope and hanging oneself.

    Perhaps, just maybe, President O was quiet and passive so he could let Robme ramble on.

    Now, in the bright light of day, the media is fact-checking Robme's gibberish and proves he is lying?

    Huffpo has a list of 10 lies, excuse me, "baseless claims" they have debunked just today.

    This is far more effective than a quick and soon to be forgotten, snarky response in a debate.

    Never underestimate President O!

    And yes, we already know you Fox trolls consider "fact-checking" as "carrying water for Oblamo"!

    October 4, 2012 07:20 pm at 7:20 pm |
  13. Claudia, Houston, Tx

    Deport John Sununu back to Cuba, he attacks our president with his name calling worst than the President of Iran, or is he working for the President of Iran instead of Romney because Romney has stopped Sununu. We are Americans and we don't take to someone from another country, that we welcomed in, to call our President or any president whatever he chooses. Deport Sununu back to Cuba, Iran or any other country, he doesn't deserve to live in the USA.

    October 4, 2012 07:20 pm at 7:20 pm |
  14. Namejkane sfl a vote for lady parts romney the tax cheat and lyin lady parts ryan willcut your moms medicare and soc sec . .can you afford to pay for them???

    Another lie from romney the tax cheat ,Obama stratagy is to let romney hang himself with all his lies fact checked by the next debate ,I guess Obama didn't lose the debate after all?????

    October 4, 2012 07:25 pm at 7:25 pm |
  15. Marie MD

    If the President had told the twit that he was lying about everything one and a half hours, heck ten hours, would not have been enough time to call him out on all the crap the twit threw to the US last night.
    What the Dems now have to do is speak about the real truth and the facts not the lies these two slimeballs keep throwing out.
    I was surprised that the twit actually quoted Goebbels that saying a lie over and over again becomes the truth. Somebody should have handed him a mirror to crack!

    October 4, 2012 07:31 pm at 7:31 pm |
  16. Roland John

    Mitt Romney is a typical politician who would say anything in order to win the election. I think he is fake and can do anything to get a vote. This was the guy who called 47% of American as parasites and don't care about them and at the same time in the debate he claimed to care for the middle class. What a shame!

    October 4, 2012 07:31 pm at 7:31 pm |
  17. CanadaONE

    Romney is the Biggest liar EVER and the american media are letting him ger away with it

    the USA is really starting to slip downwards

    October 4, 2012 07:33 pm at 7:33 pm |
  18. Anthony in California

    SO Romney won the flipflop, bully and lie contest. Okay... Im cool with that. I'd like to see him try and be diplomatic like that with Iran, Russia or China. We've already seen how he handled Europe and Israel. And for middle class Americans.. well if he tells the moderator to his face that he'd cut funding to PBS and fire HIM, then do you really think he cares about Joe-Middle Class? I mean.. how is Obama supposed to debate someone who not only lies with a straight face, but flip flops on his own stances DURING the debate? Im glad the truth squad has started to call Willard out on his many lies from last night.

    October 4, 2012 07:45 pm at 7:45 pm |
  19. CBR

    Where are the statistics to prove this? Our smaller banks are doing just fine. In fact many people have gone to smaller banks just because the big banks do not offer good customer service. Loyalty is not as important as it once was.

    October 4, 2012 07:46 pm at 7:46 pm |
  20. S.B. Stein E.B. NJ

    I would like to see more support for the smaller banks. I just don't know how to do it. Has either major party candidates proposed something?

    October 4, 2012 08:43 pm at 8:43 pm |
  21. honest mari

    What do u expect? Romney tries to sell every thing even lies to get the Presidency.

    October 4, 2012 09:48 pm at 9:48 pm |
  22. Anybody else confused by Romney?

    It is really hard to believe what Gov. Romney says. Even on his own positions. He is always re-making himself, changing his message, shifting direction. His opinion seems solely driven by polls. Example, he created Romneycare (he was for it), President Obama took a good republican idea (Romneycare) and developed Obamacare, the tea party didn't like Obamacare so Gov. Romney campaigned in the primary on repealing Obamacare (he was against it), until President Obama and the Democrats vehemently supported Obamacare at the convention and the citizenry began to appreciate it and a week later Gov. Romney all of sudden liked certain aspects of Obamacare that were most popular with the citizenry. At the debate he completed shifted again. It's almost like a salesperson in a store that tries to really get to buy the $10 dollar store replacement insurance for a cheap hairdryer. Romney is confusing, which is a little scary. He just seems angry and it's hard to really know why he is so angry.

    October 4, 2012 09:49 pm at 9:49 pm |
  23. ClearThinker

    He bailed out the big banks.
    With our money.
    To serve the elitist global agenda.

    Fact check & FTFY

    October 4, 2012 11:06 pm at 11:06 pm |
  24. GI Joe

    ha ha ha ha ha ha ha ha

    from one of the biggest sheisters ever to hit the political scene. Romney will relax those regulations and cut their taxes, and they'll do it again.

    October 5, 2012 12:21 am at 12:21 am |
  25. JimB

    Next time get Clinton as his coach, not John Kerry. Obama needs to force Romney to explain his positions in more detail or as Ted Kennedy once said, "Romney has changed his mind so many times and seems to agree with me on so many issues, he'll probably vote for me." He needs to ask why he won't share his taxes. He appears to be hiding not only his taxes, but how he will pay for his tax cuts. It's like "believe me it won't hurt." He is full of lies and flip flops and Obama let him off the hook time and again. Also, those tax shelters and his "not paying his share".

    October 5, 2012 12:54 am at 12:54 am |
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