Republican Strategy Shifts on Dodd-Frank

Photo Credit of Rep Michelle Bachman CBS news posted MHProNews.comBankInvestmentConsultant reports Republicans have moved from a strategy of repealing Dodd-Frank to amending it. The shift in GOP strategy is a result of a generally popular piece of financial reform legislation coupled with a lack of control of the U.S. Senate. Presidential contender Rep. Michelle Bachmann (R-MN), introduced a repeal bill in January that drew only nine co-sponsors. Senate Minority Leader Mitch McConnell (R-KY), the ranking Republican on the Banking Committee, and Senator Richard Shelby (R-AL), have sponsored a repeal bill, which is headed no where. “My opinion is that the only opportunity for repealing large parts of Dodd-Frank is going to be 2013,” said Cato Institute financial regulation study director Mark Calabria, a former Republican staffer on the Senate Banking Committee. Many manufactured housing association leaders have shared a similar opinion to Calabria’s with, typically off the record.

(Photo credit: CBS News)

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