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Roll back: Repealing the worst of Dodd-Frank
New Hampshire Union-Leader, by Editorial

Original Article

Posted By:Pluperfect, 3/12/2018 5:17:57 AM

After the housing bubble burst, Democrats found themselves in control of Congress and the White House. So they crafted legislation they claimed would ensure this problem never happened again. In passing the Dodd-Frank Wall Street Reform and Consumer Protection Act, Democrats created a whole new set of problems. By imposing a massive load of new regulations on banks, supposedly for the purpose of cracking down on risky behavior by those "too big to fail," Congress made life much harder on small and mid-sized banks. Contrary to popular belief, large corporations love regulations. They have the resources to keep lawyers and compliance departments on

      


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Reply 1 - Posted by: paperpuncher, 3/12/2018 6:27:06 AM     (No. 11569001)

It´s about time. The left caused the melt down in the first place. Remember Franklin Raines? Cook the books at Fanny & Freddie then retire with a $90mm performance bonus. How about Acorn and Barney Frank along with other nefarious characters blackmailing banks to accept sub-prime loans they would never take on voluntarily. "Everyone has the right to own a home"

Then after all that, the same people who caused the whole problem become the heroes to the rescue with Dodd Frank to make sure it wont happen again. Of course Dodd Frank only caused more damage.

Is there something wrong about this scenario?

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Reply 2 - Posted by: jeffkinnh, 3/12/2018 6:34:09 AM     (No. 11569004)

Dodd-Frank is do do that can be hung on the neck of E. Warren. She is a staunch defender of something the dems created that is SO BAD that, in the time of Trump #Resistence, 17 dem Senators joined in unwinding it. With the CFPB leadership having been flushed, Warren doesn´t have much positive to talk about.

Well, she is a native American, right? Oh, but the tribes don´t think so and she refuses to take a public DNA Test (you can be pretty sure she flunked a secret one). Too bad.

Maybe she can go back to Harvard and set up her teepee there. They let her do it once and bragged about their "native American" faculty member. But she never took advantage of her unproven "heritage", right? Ooops.

Well, she certainly is in the mold of BO; a Leftist of dubious accomplishment, a big mouth, and enormous self regard. We sure need another BO, don´t we? We´ll just have to wait about about 20 years while we clean up the mess that he left behind. Meanwhile we´ll have a bunch of new things to think about; The Ethics in Justice Act, The Ethics in Intelligence Act, The Ethics in Tax Administration Act, The Ethics in Environmental Quality Administration Act, The Clintoon Ethics in Charitable Organizations Act, and probably a few more.

MAGA. Winning in so many ways.

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.New_S.
  


 
Reply 3 - Posted by: F15 Gork, 3/12/2018 6:58:05 AM     (No. 11569022)

Dodd-Frank ...... proof that the sole purpose of Congress is to make things worse.

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Reply 4 - Posted by: StormCnter, 3/12/2018 7:36:39 AM     (No. 11569041)

I love this. And I also love that Congress and the President are yanking the teeth from Elizabeth´s baby, the CFPB.

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Reply 5 - Posted by: metalman2, 3/12/2018 7:39:53 AM     (No. 11569044)

I spend about 20 hours a year completing "Conflict Minerals" documents, which is also a part of this law, and I´ve got it easy. We don´t use any steel with conflict minerals in them, but if you do, you need an entire legal / compliance desk to work through the "stuff".

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Reply 6 - Posted by: john56, 3/12/2018 7:58:07 AM     (No. 11569053)

Sadly, most of the small local banks are gone, thanks to Dodd Frank.

My bank was an independent bank, bought out several years ago by another similar sized bank and now another bank in a neighboring state. I guess less than 100 branches count as a small bank nowadays.

Some friends of mine ran a small community bank in a nearby town. The cost of regulation under Dodd Frank was so high and the ability to "meet" the requirements -- although a very profitable bank and in an area that was booming -- led them to sell the bank to another bank about their size in a nearby metro area.

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Reply 7 - Posted by: Mickturn, 3/12/2018 8:40:53 AM     (No. 11569102)

Correction, the Democraps passed a Bad law
To cover their sorry Arses.

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R-TA-Wide_2
  


 
Reply 8 - Posted by: gone2pot, 3/12/2018 8:42:39 AM     (No. 11569104)

Yes, after the horses have all escaped from the corral, the GOP will campaign over their brilliant and bipartisan WAAAAAAYYY they closed the gate.

In the mean time, since QE benefits for the big five is waning, the parts of Dodd-Frank being "fixed" will spread the now 21 trillion dollar debt to the remaining smaller banks.

Yes Rio Lindans, it´s a cookbook.

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Reply 9 - Posted by: Adam, 3/12/2018 8:45:51 AM     (No. 11569108)

While we are out it, let´s dump Sarbanes-Oxley also.

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Reply 10 - Posted by: Rumblehog, 3/12/2018 9:10:25 AM     (No. 11569139)

Every law the uni-Party Congress passes has corporate donor payback written all over it, starting with the failed attempt at Hillarycare to enrich "Big Pharma" in the Age of Bubba to every single thing done under Idi Obama. Payoffs to major industries, whether Goldman-Sachs, AIG, or Citibank the "Senator PAC Highway" isn´t far away from the legislation.

The Federal Government is a criminal enterprise.

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Reply 11 - Posted by: strike3, 3/12/2018 9:24:51 AM     (No. 11569166)

Dodd-Frank did one thing well. It gave the Kenyan fraud something with which to brag that he fixed a mess that he inherited from George w. Bush. Naturally he didn´t mention that the entire mess was created by democrats to allow blacks and hispanics to buy homes and then send them into foreclosure, thus turning the real estate industy on its back.

YES, #9. Sarbanes-Oxley has been an unconstitutional pain in my butt since 1985. Daniel Patrick Moynihan outdid himself with that massive screwing of independent, self-employed engineers and computer programmers. The extra work and record keeping by business is a crime in itself and the outright government-imposed theft is staggering.

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Reply 12 - Posted by: bigfatslob, 3/12/2018 9:44:15 AM     (No. 11569189)

Once the weenie Republicans fix the Dodd-Fwrank Reform Act against Wall Street maybe they could fix the Dodd-Kennedy Waitress Sandwich Act too since it already happened and it´s too late.

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.LockDme.


 
Reply 13 - Posted by: gobushcheneygo, 3/12/2018 9:49:39 AM     (No. 11569197)

While we´re at it, can we dump Daylight Saving Time? This morning was a bear@!

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Reply 14 - Posted by: dvc, 3/12/2018 9:55:11 AM     (No. 11569206)

Too bad they cannot repeal the whole steaming pile of leftist garbage.

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Reply 15 - Posted by: countryDoc, 3/12/2018 11:48:13 AM     (No. 11569354)

We need to work on the medical industry next. The regulations and insurance companies are making primary care non viable and primary care physicians are leaving in droves, being "replaced" by walk in, Fast Pace clinics that are not doing primary care, but cherry picking the easy visits while the PCPs take on the more cumbersome geriatric, chronically ill, and difficult to manage patients at a loss. This country´s primary care infrastructure is going to be gone before they wake up. Killed by similar red tape as what is killing the small banks

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Reply 16 - Posted by: Caveman, 3/12/2018 1:33:30 PM     (No. 11569516)

Dodd-Frank was nothing more than a gift to the big Wall Street banks to kill off the smaller banks. Banksters win!

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Reply 17 - Posted by: 3XALADY, 3/12/2018 2:37:37 PM     (No. 11569595)

I remember those years where about every day there was a small article in the news that another small bank had either bit the dust or was being bought out.

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.R-LJ.
  


 
Reply 18 - Posted by: Mulhaven, 3/12/2018 3:54:34 PM     (No. 11569663)

#2 Just one thing to add about your post. WOW!

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