Matt Taibbi, Rolling Stone contributing editor, and Bay Buchanan, former U.S. treasurer and senior adviser to Mitt Romney, join “Viewpoint” host Eliot Spitzer to debate the Dodd-Frank Wall Street Reform and Consumer Protection Act. Eliot Spitzer asks Buchanan whether Romney supports the reforms that Dodd-Frank and the Volcker Rule, a section of the bill, seek to enact, such as regulating derivatives. Buchanan says yes, but the bill is too complicated and onerous for companies to deal with: “There’s thousands of pages of regulations,” she notes.
“I don’t think it’s that complicated,” Taibbi counters. “Really all the Volcker Rule is intending to do, it’s trying to separate these federally insured companies from the risky investment banking.”