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Mitt Romney: Banking Regulation Is Essential To The Functioning Of Markets
July 26, 2012
Mitt Romney, in the middle of a trip to London that is being overshadowed by verbal gaffes on his part, made some unusual comments about financial regulation to a group of supporters at a fundraiser in Great Britain’s capital.
Romney, the presumptive Republican presidential nominee, told a crowd full of bankers that the GOP has erred in the past in the way it has spoken about regulating Wall Street and the financial sector.
“There’s no question but that regulations are essential to the functioning of markets. We have in our party, I think, on occasion misspoken by just saying we’re for deregulation — to some that means we want to get rid of all regulation,” Romney said. “That’s not true. Of course you have to have laws and regulations to make free markets able to produce and to be effective.”
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