GOP Starts Planning to Roll back wall Street Reforms

[gimpy117]

http://www.politico.com/news/stories/0311/51458.html

didn't we learn our lesson once? Oh wait...the only people that hurt was the little man. Lets Deregulate again!!! TARP 2.0 or bust!

[Gargamel]

This is why our country is spiralling out of control. One party tries to do something good, the other party opposes them, eventually somebody wins, a law gets passed, and then it flips a few years later.

I really wish we could get rid of the party system and let each delegate think on their own instead of being spoon fed what to say and do. Let their constituents decide for them. Hell, keep the lobbyists, just get rid of the parties.

Never happen.... but I can dream.

[Armistead]

The GOP is setting up corporate control of America. With corporations doing very well with record profits, I'm still holding my hand out trying to feel the trickle.

Both parties suck, but americans flip flop about every voting season, so we can only blame ourselves that we keep voting in the same sell outs. Course, the way they have it set up, nothing much to do but say."FK it" when you cast your ballot.

[flatsixes]

Originally Posted by gimpy117

didn't we learn our lesson once? Oh wait...the only people that hurt was the little man. Lets Deregulate again!!! TARP 2.0 or bust!

Sigh. Don't believe the sound bites, friend. Dodd-Frank is an effin disaster for everyone except us lawyers.

Following the bill’s passage, the regulatory implementation phase will begin. By our count, the bill requires 243 rulemakings and 67 studies. While few provisions of the bill are effective immediately and Congress has designed the bill to become effective in stages, regulators and market participants will need to begin responding to the legislation immediately after its passage. U.S. financial regulators will enter an intense period of rulemaking over the next 6 to 18 months, and market participants will need to make strategic decisions in an environment of regulatory uncertainty.

The legislation is complicated and contains substantial ambiguities, many of which will not be resolved until regulations are adopted, and even then, many questions are likely to persist that will require consultation with the staffs of the various agencies involved. Agency rulemaking will, however, set the parameters of the new regulatory framework. The new regulatory framework will contain both new elements and elements drawn from the patchwork of current U.S. financial regulation. An understanding of the older layers of regulation will be indispensable for understanding the new law.

In addition, regulatory implementation will be a dynamic process. Market participants will change their behavior in response to the new regulations and to the rules issued by other regulators and by international bodies. The regulators will be challenged to conform the required regulations to a follow-on technical bill, as promised by Chairman Frank. We expect that there will be both severe challenges for financial institutions as well as significant market opportunities, both at home and abroad, and that regulators and market participants will be dealing with the bill’s consequences, both intended and unintended, for many years to come.

And your "little man" is going to pay for all of it. I guarantee it.