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Government Regulations Weighing Down Banks

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Description
FBN’s Gerri Willis on the government hurting banks with increased rules and regulations instead of helping them boost the economy with more lending.
Duration 0:55
Date Feb 29, 2012

This transcript is automatically generated

-- more red tape more regulation.

Hello everybody I'm Gerri Willis the nation's banks facing unprecedented levels of secure our scrutiny that is from the federal government.

New transparency rules money market reforms consolidated audit trails you name it.

And today and other probe this time from the FCC in the mortgage backed securities.

And you know what we haven't even started implementing Dodd-Frank not yet.

Meanwhile Fannie Mae today seeking another four point six billion dollars in our tax Payer money.

Just to keep operating.

And the mortgage giant and its twin Freddie Mac.

Have together already gotten a 180 billion dollars of our money to back stop its money losing ways.

In other words Washington regulators are fiddling.

While our tax Payer -- -- -- time to stop grabbing headlines and get banks back to lending so that this economy can grow again --