Comments on: The Financial Regulation Law: Why It’s Unneeded

By: p r barriball

p r barriball — Thu, 15 Jul 2010 00:18:00 +0000

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 mis-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!

By: Virginia

Virginia — Wed, 14 Jul 2010 21:27:36 +0000

I was reading something last night that talked about how the banking regulations enacted in the 1930′s caused business to delay any big projects due to uncertainty about regulatory intervention. It delayed the economic recovery because everyone was holding onto cash instead of investing it.

By: Bruce

Bruce — Wed, 14 Jul 2010 21:21:32 +0000

What this administration wants is discretionary power, which it would like to use to reward friends and punish enemies.

By: Larry C.

Larry C. — Wed, 14 Jul 2010 20:52:31 +0000

Interesting. This is something I did not know.

By: Joe S.

Joe S. — Wed, 14 Jul 2010 20:36:40 +0000

Agree totally. What is about to happen is unnecessary and stupid.

By: Tom H.

Tom H. — Wed, 14 Jul 2010 20:34:29 +0000

Excellent pont. And one that I think was made recently in an NCPA Brief Analysis. I haven’t seen the point made anywhere else, however.