Barney Defends Frankendodd!

Posted on by Phil Querin

Former Congressman Barney Frank testified before the House of Representatives Committee on Financial Services on Wednesday, arguing that the Dodd-Frank Wall Street Reform and Consumer Protection Act and the voluminous set of regulations that followed shortly thereafter was a positive for the economy and safeguarded the American public from ever having to face an economic down turn […]

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Posted in CFPB, Dodd-Frank, Federal Reserve, Financial Crisis, Legislation - Federal, Miscellany, Q-Rants | Tagged , , ,

The Rule of Nobody: Reasons Behind Regulatory Complexity

Posted on by Phil Querin

Ever wonder why laws, rules and regulations keep growing, becoming more complex rather than less? Readers at this site know my feelings about Dodd-Frank (aka “FrankenDodd”) at 2,400 pages [not counting the thousands of pages of still unfinished rulemaking] and the Volker Rule at 900 pages.  Both laws grew out of a Congressional knee-jerk reaction […]

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Posted in Dodd-Frank, Federal Regulation, Legislation - Federal, Miscellany, Q-Rants | Tagged

FrankenDodd’s Collateral Damage: Banks Too Small To Succeed

Posted on by Phil Querin

As readers of this site know, I have no love lost for the Dodd-Frank Act.  To review my prior rants, go to posts here and here. The gist of my objection to the law is that it casts too wide a net.  It was created by politicians, bureaucrats, and regulators that had no real idea […]

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Posted in Dodd-Frank, Federal Regulation, Financial Crisis, Miscellany, Q-Rants | Tagged , , ,

Oregon MLO Licensing Exemptions for Manufactured Structure Dealers

Posted on by Phil Querin

Who would have thought that the financial crisis brought about by Big Bank Shenanigans would incentivize national and state regulators to impose Draconian rules on the sale of pre-owned manufactured homes?  This relatively small industry is the last vestige of affordable housing in this country.  This misguided effort is akin to regulating row boats after the Titanic […]

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Posted in CFPB, Dodd-Frank, Federal Regulation, Financial Crisis, Legislation - Oregon, Residential Housiing | Tagged , ,

What’s In Your Bank?

Posted on by Phil Querin

In one of the most insightful articles I’ve read about Big Banks from the Great Depression to the present, authors Frank Partnoy and Jesse Eisinger, writing in the Jan/Feb 2013 issue of The Atlantic, discuss why America’s big lending institutions are no safer today, than the months leading up to the 2008 collapse of the […]

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Posted in Dodd-Frank, Financial Crisis, Legislation - Federal, Miscellany, Subprime Crisis | Tagged , , , , ,

The CFPB – Spawn of Frankendodd

Posted on by Phil Querin

It is no secret that my regard for the Consumer Finance Protection Bureau (“the CFPB”) is akin to my regard for Bubonic Plague; they both grow exponentially, can be difficult to eradicate – and they both come from rats.  For background about this regulatory Leviathon, see my rants posts here and here.

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Posted in CFPB, Dodd-Frank, Fannie&Freddie, Financial Crisis, GSEs, Legislation - Federal, Miscellany, Subprime Mortgages | Tagged , , , ,

The ‘Briar Patch’ of Dodd-Frank

Posted on by Phil Querin

  The Goliaths are getting bigger. From 1995 to 2009 the six largest banks’ assets increased from 18% of gross domestic product to 68%. They’re considered by regulators, politicians, management and the market to be systematically [sic] important, too big, too interconnected, and therefore too big to fail. Consequently TBTF institutions enjoy a funding advantage […]

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Posted in Dodd-Frank, Fannie&Freddie, Financial Crisis, Market Conditions, Miscellany | Tagged , ,
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