Former Goldman VP calls Dodd-Frank “detrimental to the financial system”

Chris Meek

Chris Meek, the Republican candidate for Connecticut’s fourth congressional district, recently said that the Dodd-Frank Act of 2010 is detrimental to the financial system.

The former vice president of Goldman Sachs, Meek says that financial regulations are hindrances for the U.S. economy, citing the Volcker Rule as an example, the National Review Online reports.

Meek said that some regulation, however, is necessary. Meek said that Congress should standardize the foreclosure process, which differs from state to state, according to the National Review Online.

As the head of the non-profit Start Now!, founded by Meek in 2009, Meek has experience dealing with a struggling housing market. The organization brings together bank representatives and homeowners facing foreclosure.

Meek also said that Fannie Mae and Freddie Mac are just a couple of “the biggest reasons why we got into this mess,” according to the National Review Online. Meek advocates offering the financial giants publicly rather than keep them as “quasi-government agencies.”

The Connecticut Republican party will nominate their congressional candidates in May. Meek is one of three potential Republican candidates and hopes that his casual appeal will put him at an advantage.

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