This question is not just rhetorical. As of January 10, 2014, a batch of new laws became effective across the country, including Oregon. Though the laws were intended to deal with Big Bank excesses – you remember, those morally vacuous zombie institutions that singularly brought this country’s credit and real estate markets to its knees and ushered in the Great Recession? Yeh, those guys; the ones whose execs never went to jail. Anyway, following Wall Street’s near death experience, circa 2008-2009, Chris Dodd and Barney Frank [Big Bank sycophants par excellence] immediately put their low-paid staffers, interns and toadies to work crafting a 900-page bill which has spawned 14,000+ pages in regulations[1]. Like so many politicians before him,[2] Barney Frank apparently didn’t read his namesake bill very close either. After creating a law that is more aptly named “FrankenDodd,” Mr. Frank, now retired from the House after 30+ pugnacious years berating anyone who disagreed with him, has recently admitted that the law has gone too far. ~PCQ [For full article, go to link here.]
Menu
