Johann Galt

Obama's Financial Reforms: Who Stands to Lose

You have got to be kidding wrt SnL's: "the only change their customers may notice is that interest rates become a bit less generous[.]"???

Nice fluff piece. With the regulatory morass that comes with being a "bank" imposed upon SnL's the end result will surely be their extinction. Local SnL's can't afford the cast of characters necessary to maintain the auditing stds req'd of banks. Clearly, the change customers will notice is the rapid decrease of SnL's, as they are bought out by larger banks.

Great analysis- I look forward to hearing of your appointment as a regulator in this great new federal program!