NACBA
Member
- Joined
- Jan 19, 2010
- Messages
- 784
Congress approved a spending bill that will roll back a provision of the Dodd-Frank financial reform law. The victory for banks is not as major as it may initially seem.
How big of a loss did financial reformers sustain in its latest battle with Wall Street? It comes to 0.5% of bank assets. Put another way, if JPMorgan Chase was an average American household and not a bank, regulators just made it legal for the Chases to risk an additional $400 at the races. Have fun.
To many, last week offered more evidence that in the post-crisis fight to rein in the financial sector, Wall Street has once again come out on top.
http://fortune.com/2014/12/15/wall-street-dodd-frank-elizabeth-warren/?xid=yahoo_fortune
How big of a loss did financial reformers sustain in its latest battle with Wall Street? It comes to 0.5% of bank assets. Put another way, if JPMorgan Chase was an average American household and not a bank, regulators just made it legal for the Chases to risk an additional $400 at the races. Have fun.
To many, last week offered more evidence that in the post-crisis fight to rein in the financial sector, Wall Street has once again come out on top.
http://fortune.com/2014/12/15/wall-street-dodd-frank-elizabeth-warren/?xid=yahoo_fortune
