New Financial Reform Bill
Since no one has posted anything yet.......What are the thoughts on the new financial reform bill?
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People still don't really know what's in it. For instance, the Volcker rule is supposedly going to be "investigated" for 6-12 months.
Personally, I think the whole thing is essentially in vain.
Didn't we have a housing bubble/ S&L crisis before?
Didn't banks and investment companies get in trouble for holding junk bonds/CMO's before? Didn't we separate commercial and investment banking before?
Companies will find ways around the regulations and history will repeat itself. Though I hat to say it, our prestigious financial institutions are not "rational" because people want to pump the system for a few years, get rich and retire so these big companies will just go back to their old tricks in a few years when the new generations comes in.
That's also part of the problem. Finance is a burnout industry if there ever was one. I mean look, we have people advising million or billion dollar transactions who are too young to get prostate exams. We all know wisdom is tied to the 40th birthday and the humiliating and uncomfortable annual examinations that accompany the last half of life.
Quo dolor iure esse rerum. Dolor recusandae ullam iste vero et.
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