The administration and lawmakers are busy congratulating themselves on the “historic” Dodd-Frank legislation, the “toughest financial reform” since the Great Depression. Sure . . . if historic is synonymous with long, costly, needlessly complex, and likely to have little impact…
by lawrence baxter • • 0 Comments
by lawrence baxter • • 2 Comments
The rulemaking process that will follow President Obama’s signature to the financial reform legislation in early July will be a complex, expensive and important one. This is where many critical details will get hammered out, and financial institutions are well positioned to influence this process, whereas consumers and the media are not. Only the strongest of regulators would be able to ensure that the public interest is adequately protected through this process.