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by richardknop
3130 days ago
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Frank Dod Act is a ridiculously watered down version of regulation that was originally proposed. Wall Street lobbyists made Democrats nerf it to the point it's almost meaningless. So I would say that Democrats have been very good to bankers in this particular case. For optics reasons (it was right after the financial crisis) something had to be done and this was the best possible scenario for bankers so I'd say they were glad with it under the circumstances. |
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This is wrong. Was Dodd Frank reduced in scope and severity from its first drafting? Yes. Does that amount to watering it down to meaninglessness? No. The bits that stuck have bite. Some bits had, in my opinion, more bite than merit.