“…but blankets them with so much regulation that they are no longer really independent operators..”
I’ve been saying this for a while: Dodd-Frank is the financial service industry version of Obamacare. Well before Scott Brown made a big deal about his vote against Obamacare (a good thing) in starting his run for US Senate from here in NH but has tried to poo-poo his vote for Dodd-Frank. Certainly an unexplainable vote for him (“our system was in meltdown” said in a half-hearted way to me is NO explanation at all). In effect, Dodd-Frank will as severely handcuff and nationalize control of our financial system by political hacks just like those same hacks have done to our healthcare system. Thus, when I read this, my reaction was “well, boys, welcome to Club Obvious, late as you are” (reformatted, emphasis mine):
How ‘Dodd-Frank’ is becoming the new ‘Obamacare’
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If you don’t know what the Dodd-Frank Act is, Rep. Paul Ryan (R-Wis.)told an audience last weekend, “it’s Obamacare for banks.” Ryan, outgoing chairman of the House Budget Committee, was echoing Senate Minority Leader Mitch McConnell (R-Ky.), who’s been using that expression since at least April (and he used it again Wednesday night). Expect to hear the expression more, particularly once a new, probably-Republican-led Senate takes over on Capitol Hill in January.








