Marco Rubio presidential campaign, 2016/Banking policy
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 Marco Rubio |
Current U.S. Senator (2011-Present) FL House of Representatives (2000-2009) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- At the fourth Republican primary debate on November 10, 2015, Marco Rubio discussed why he opposed the Dodd-Frank Act. He said, "Do you know why these banks are so big? The government made them big. The government made them big by adding thousands and thousands of pages of regulations. So the big banks, they have an army of lawyers, they have an army of compliance officers. They can deal with all these things. The small banks...they can't deal with all these regulations. They can't deal with all -- they cannot hire the fanciest law firm in Washington or the best lobbying firm to deal with all these regulations. And so the result is, the big banks get bigger, the small banks struggle to lend or even exist, and the result is what you have today. And in Dodd-Frank, you have actually codified too big to fail. We have actually created a category of systemically important institutions, and these banks go around bragging about it. You know what they say to people with a wink and a nod? We are so big, we are so important that if we get in trouble, the government has to bail us out. This is an outrage. We need to repeal Dodd-Frank as soon as possible."[2]
- In November 2011, Rubio co-sponsored S 1866 - American Growth, Recovery, Empowerment, and Entrepreneurship Act, which was intended to grant "a five-year exemption from Section 404(b) of Sarbanes-Oxley for the first five years of a company going public, or for those below $250 million in total gross revenue."[3][4]
- Rubio co-sponsored S 202 - Federal Reserve Transparency Act of 2011 in October 2011, which sought a full audit of the Federal Reserve.[5]
- According to The Florida Times-Union in July 2010, Rubio supported cancelling the Troubled Asset Relief Program, which was essential to bailing out large banks following the 2008 financial crisis.[6]
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See also
Footnotes
- ↑ The New York Times, "Marco Rubio Suspends His Presidential Campaign," March 15, 2016
- ↑ The Washington Post, "Who said what and what it meant: The 4th GOP debate, annotated," November 10, 2015
- ↑ Congress.gov, "S.1866 - AGREE Act," accessed December 10, 2015
- ↑ U.S. Senator for Florida, Marco Rubio, "Senators Coons & Rubio Introduce the AGREE Act," November 15, 2011
- ↑ Congress.gov, "S.202 - Federal Reserve Transparency Act of 2011," accessed December 9, 2015
- ↑ The Florida Times-Union, "Rubio: Debt will diminish our country; plan unveiled in Jacksonville," July 26, 2010
