Jonathan Small | September 16, 2016
Free Market Friday: Dodd-Frank harming Oklahoma banks
The White House Council of Economic Advisors recently released a report claiming the Dodd-Frank financial services law of 2010 is not harming community banks.
Not so, say the bankers, the General Accountability Office, and the clear numbers.
When government policies help an industry, it is more likely to prosper; when they harm that industry, as Dodd-Frank clearly does, it withers. That is why there are fewer American banks in operation today than at any time since the Great Depression.
Many have only a vague concept of Dodd-Frank and what prompted Congress to pass it in 2010. So let’s review.
Jonathan Small, C.P.A., serves as President and joined the staff in December of 2010. Previously, Jonathan served as a budget analyst for the Oklahoma Office of State Finance, as a fiscal policy analyst and research analyst for the Oklahoma House of Representatives, and as director of government affairs for the Oklahoma Insurance Department. Small’s work includes co-authoring “Economics 101” with Dr. Arthur Laffer and Dr. Wayne Winegarden, and his policy expertise has been referenced by The Oklahoman, the Tulsa World, National Review, the L.A. Times, The Hill, the Wall Street Journal and the Huffington Post. His weekly column “Free Market Friday” is published by the Journal Record and syndicated in 27 markets. A recipient of the American Legislative Exchange Council’s prestigious Private Sector Member of the Year award, Small is nationally recognized for his work to promote free markets, limited government and innovative public policy reforms. Jonathan holds a B.A. in Accounting from the University of Central Oklahoma and is a Certified Public Accountant.