Rick Perry Tries to Sound Intelligent About Wall Street – Fails Miserably (Video)

rick-perry-dodd-frankWhile there are plenty of Republican presidential candidates who stand absolutely no chance at winning their party’s nomination, perhaps no candidate’s entrance into the race has been more mind-boggling than Rick Perry’s.  After his disastrous 2012 campaign which saw him commit one of the most embarrassing moments in modern political history, there’s absolutely no logical reason why he would think he stands even the slightest chance at winning in 2016.

Heck, he’s not even the most popular person from Texas in the race.

That being said, I couldn’t be more thrilled about his candidacy. Nearly every time Perry opens his mouth, it’s pure gold. Just listening to him talk, all that goes through my mind half the time is what an absolute idiot he is. The fact that he was governor of my state longer than any other person in history is both depressing and embarrassing.

Well, during an interview on Face the Nation with John Dickerson, the former Texas governor came away looking like a complete imbecile after trying to bash the Dodd-Frank banking regulations while simultaneously calling for – you guessed it – banking regulations.

“You can’t even get a loan from your community bank because of Dodd-Frank banking regulations,” Perry said. “Americans are fed up with that type of inside, where the rich get richer and folks out on Main Street have to pay bills.”

“What are you going to do about Wall Street, then?” Dickerson asked.

“Well, regulate them,” Perry said. “Make sure that that doesn’t happen. If they make bad decisions, let them live with those bad decisions, don’t bail them out.”

“But isn’t that what Dodd-Frank is, regulations?” Dickerson asked. “You were saying that was bad?”

“Dodd-Frank is killing the community banks [with] over-regulation,” Perry responded.

So, Perry’s “solution” is to get rid of Dodd-Frank by implementing regulations – that essentially do what Dodd-Frank does. This is what happens when someone lacking intelligence tries to sound intelligent concerning a subject about which they really know nothing.

But I think it’s important to point out the utter lack of details Perry laid out during this interview. Furthermore, when he insists that community banks are over-regulated, he’s referring to provisions in Dodd-Frank that are meant to prevent predatory lending – one of the leading contributors to our 2008 crash.

Though, as Elizabeth Warren pointed out back in February, small banks are actually doing just fine even after these new regulations went into effect. I’m sure if someone digs around they might be able to find a few stories where smaller banks weren’t able to abide by these new regulations, but nothing’s perfect.

Ultimately, all Rick Perry did was showcase – yet again – that he really is his own worst enemy. You could tell even Dickerson was fairly befuddled by his suggestion that we need to get rid of Dodd-Frank while saying he supports regulating big Wall Street banks, which is a huge part of what Dodd-Frank does. It would be one thing if Perry offered any sort of real plan, but he didn’t. All he did was say that small banks were being hurt from regulations, when reality shows us that’s not the case.

Or, as Rick Perry might say – oops.

Watch the interview below via CBS News:

Allen Clifton

Allen Clifton is a native Texan who now lives in the Austin area. He has a degree in Political Science from Sam Houston State University. Allen is a co-founder of Forward Progressives and creator of the popular Right Off A Cliff column and Facebook page. Be sure to follow Allen on Twitter and Facebook, and subscribe to his channel on YouTube as well.


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