Ten regulatory agencies will now have the discretion to write hundreds of new rules governing finance. The decisions will be made by obscure agencies including the Federal Reserve who have asked for $45 million to staff up. “Democrats say the Bill will cut the odds of another crisis and help handle another when it comes.”
This last statement is comical if it were not so tragic for everyone this bill touches. Instead of responding to the cause of the financial crisis the bills weakens the U. S. economy and retards economic growth when we need it the most. From ATM charges to a 3% reduction on shareholder return on equity, no one escapes being impacted except the real culprits Fannie Mae and Freddie Mac.