Photo: Courtesy of The Street.
Texas Gov. Rick Perry says he thinks the pre-Dodd-Frank Wall Street regulatory structure was just fine, and opposes the new system put in place by the controversial bill.In an interview with CNBC’s John Harwood, Perry said he blames the financial crisis on regulators not doing their jobs, adding he would try to fire them if elected president.
Read the transcript below:
JOHN HARWOOD: One more thing. And that is, Occupy Wall Street, this movement that has taken root in New York City and some other places around the country. Some people on the left think it’s their answer to the Tea Party. I wonder what you would say to both groups, when you have this proposal to dramatically cut taxes for — people at the top, you want to repeal Dodd-Frank, going back to the old system of regulation of Wall Street. How would you explain that to Occupy Wall Street and to the Tea Party?
RICK PERRY: I would say that — you have plenty of rules on the books and — insist that the people that are working in those agencies do their job.
JOHN HARWOOD: You think the previous regulation on Wall Street was adequate?
RICK PERRY: Yes, absolutely, I think it was adequate. ‘Cause we had a bunch of regulators that weren’t doing their job — I would fire those regulators. I don’t know whether you could fire them or not because of the federal laws in there. But until we can fire them, I’ll reassign them somewhere they won’t find very pleasant, and get people in there that actually do their jobs. That’s what needs to be done.
We have regulators in the state of Texas that actually get up every day and go do their jobs. And I would expect the — federal regulators to do the same. But here’s what I would tell those young people on — and — you know, the old Churchill saying, you know, if you’re not a liberal in your heart when you’re 20 and you’re a conservative when you’re 40.
I hope what they will see is that America’s a fabulous country and it gives them the opportunity to go say your peace, go protest on the street. But at the end of the day America’s about having the opportunity to take care of your family. That — creating an environment that those that really care about the future of this country and care about their family — they’ll be more concerned about who’s occupying the White House than they will be occupying Wall Street.
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