Former Minnesota Governor and unsuccessful presidential candidate Tim Pawlenty announced yesterday that he was stepping down as co-chairman of the Romney campaign in order to take over the top spot at the Financial Services Roundtable, a lobbying group that represents the largest financial services companies in the country. Pawlenty assumed the role as a top bank lobbyist despite his tough words for Wall Street during his campaign.
As head of the FSR, one of Pawlenty’s key roles will be helping banks water down the Dodd-Frank financial reform law. And he got started during his first press conference by calling for banks to do more self-regulation, choosing “voluntarily” to stop doing “stupid things”:
In his first press conference since being named head of the Financial Services Roundtable, former Minnesota Gov. Tim Pawlenty said he would seek a “refinement” of the Dodd-Frank Act, but also added that banks need to do more to regulate themselves.