Tim Geithner: Banks Have Spent Vast Sums To 'Erode' Financial Reform

Nearly one year after Congress passed financial reform, Timothy Geithner appears to have had enough with anti-Dodd-Frank lobbying efforts.

Treasury Secretary Timothy Geithner said on Wednesday that large American banks are spending "a huge amount of money to erode, weaken, walk back" the Dodd-Frank financial regulations that were enacted last year, according to The Wall Street Journal.

Geithner conceded that there was "some risk that examiners are going to overdo it a bit," but still defended the Dodd-Frank Act during a hearing before the House Small Business Committee, according to the WSJ.

http://www.huffingtonpost.com/2011/06/23/geithner-dodd-frank_n_882863.html