Post Tagged with: "finance reform"

July 16, 2010 10:36

The Lawyers and Lobbyists Full Employment Act

With the single stroke of a pen, President Barack Obama signed the Dodd-Frank financial regulation bill that set in motion 243 new formal rule-makings by 11 different federal agencies. Each of the 243 rule-makings will employ hundreds of banking lobbyists as they try to shape what the final actual laws will look like. And when the rules are finally written, thousands of lawyers will bill millions of hours as the richest incumbent financial firms that caused the last crisis figure out how to game the new system.

June 30, 2010 20:00

House passes egregious finance’reform’ bill despite warnings

Dodd-Frank is the product of a tired and discredited philosophy. Its the notion that you can solve a problem by reflexively piling vast new layers of bureaucracy, regulatory costs and taxes on it. Cost will be passed on to consumers and businesses. Call your senator and tell them to vote no!