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Is Dodd-Frank a dud? Ten months after Pres. Obama signed Dodd-Frank into law, regulators have...

Is Dodd-Frank a dud? Ten months after Pres. Obama signed Dodd-Frank into law, regulators have missed all 26 of their rule-making deadlines. The bill has proven a boon for lobbyists, creating the need for 387 rules involving 20 separate agencies, all mired in haggling over each minute detail.
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Comments (14)
  • Machiavelli999
    , contributor
    Comments (829) | Send Message
     
    Shocker. I would have never predicted this would have happened.
    6 Jun 2011, 06:17 PM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Dodd-Frank is as flaccid as today's Anthony Weiner tweets.

     

    Dodd and Frank should have been sent to federal prison where they could have worked out the details of their breakthrough along with all the other friends of Angelo. Perhaps Angelo could have been placed with them as well.
    6 Jun 2011, 06:20 PM Reply Like
  • Angel Martin
    , contributor
    Comments (1341) | Send Message
     
    regulatory capture, what a surprise !
    6 Jun 2011, 06:23 PM Reply Like
  • User 487974
    , contributor
    Comments (1105) | Send Message
     
    Yes, Frank and Dodd are failures, duds! Both men are useless and in Franks spot, should be in jail several times over. Resign is a word progressives would never consider. Even as the ship goes down, they were and still aren't wrong. Redemption? For them? They couldn't put two and two together. Enough said folks!
    Jerry
    6 Jun 2011, 06:31 PM Reply Like
  • drekon
    , contributor
    Comments (188) | Send Message
     
    Obamacare killed the first leg of this recovery, Dodd-Frank put a nail in the coffin. It's disgusting.
    6 Jun 2011, 07:21 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    "The bill has proven a boon for lobbyists, creating the need for 387 rules involving 20 separate agencies, all mired in haggling over each minute detail."

     

    And for well paid government lawyers and staffers. Just redistribution at work from the productive sector to the elitists.
    6 Jun 2011, 07:22 PM Reply Like
  • Bouchart
    , contributor
    Comments (802) | Send Message
     
    Does anyone even know what was in that bill?
    6 Jun 2011, 07:23 PM Reply Like
  • Investor Nirav
    , contributor
    Comments (61) | Send Message
     
    more regulation to increase the cost of providing service to the end user - all for no real benefit...why isn't lobbying illegal in this country?

     

    It's a crime to bribe foreign government officials, but it okay to "lobby" congressmen or give them insider information so they trade using it.
    6 Jun 2011, 08:31 PM Reply Like
  • HiSpeed
    , contributor
    Comments (1169) | Send Message
     
    Obama's Finreg is a Colossal failure - no surprise from that vile pack of elitist opportunists.
    6 Jun 2011, 09:13 PM Reply Like
  • KJP712
    , contributor
    Comments (454) | Send Message
     
    Dodd will be a Bank President one day soon.Or end up doing reverse mortgage commercials on late night T.V.
    6 Jun 2011, 09:59 PM Reply Like
  • valueinvestor123
    , contributor
    Comments (327) | Send Message
     
    The purpose of Dodd Frank was to give the appearance of reform without actually reforming anything. Therefore, I think it was a success because the system continues on its way to an even bigger crash. Maybe after that crash we can get some serious reform. However, I think that is unlikely since it is the banks continually bribe, excuse me make campaign contributions, to politicians.
    6 Jun 2011, 10:25 PM Reply Like
  • convoluted
    , contributor
    Comments (2128) | Send Message
     
    Robert Wagner, formerly of "It Takes a Thief" is far more appealing than Dodd. But, here's an idea: Instead of the legal morass which has miles to go re foreclosures, why not lower the reverse mortgage age to fit the median foreclosure/mortgagor age? This would allow a substantial number of homeowners to keep their homes, and free up the income for ANF, UA, TGT,etc. Maybe 50 is a good age, which fits Greek retirement. Further, this would reduce a lot of stress, which creates cortisol, and is a primary cause of obesity. What if this one idea actually solved the obesity epidemic, and lowered the nations' skyrocketing health costs. If the average American re-emerged as a 1950's lean, mean, working machine prototype-just think of the increase in GDP. And, all of this relates back to a modified reverse mortgage program. Well, I think I'll have one for the road, and polish this up a little bit.
    6 Jun 2011, 10:28 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    Good one!
    7 Jun 2011, 10:59 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    Regulating out of anger and spite does not have a lot of logic that holds together over time. Frank also had reason to cover his own butt as he oversaw an incredible mess in the FS industry and what better way then to gasp and point fingers and then pass a lot of unrelated disjointed laws that appeal to voters and populism. Apparently he also had close relations or relationship with one of the leaders of one of the GSE's.

     

    It is also illuminating that Dodd and Frank did not know how consumers would be impacted by a lot of these laws and as many of these provisions just meant the banks would shift their fee schedule and/or stop providing free services of any kind.

     

    We have people regulating that don't know much about the industry and look at it as their own personal piggy bank and whipping boy.
    6 Jun 2011, 11:30 PM Reply Like
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