The Frank-n-Dodd legislative creation that is being brought to life is another 2,000+ page piece of legislation (adding to the ever growing monument to man’s canonical and unfathomable legislative fervor) that merely provides an assortment of miss-sized band aids to patch up the financial industry’s ailing framework in our country. It leaves out large pieces of the framework’s foundation stones while hitting hardest at the banking community at large. And generating an even greater threat to future stability with its wide discretion given to a “broad range of regulators” to write rules, proposed 13 new bank agencies as well as its 150 government studies!
July 7, 2010
Deutsche Bank Rips Into Financial Reform
http://emac.blogs.foxbusiness.com/2010/07/07/deutsche-bank-rips-financial-reform
Final conference report: (if you are so inclined to read through the 2,319 pages)
http://financialservices.house.gov/Key_Issues/Financial_Regulatory_Reform/Conference_report_final_2.pdf
prb
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