Nov 5th 2013, 19:04:57
In this instance, allowing that provision of Dodd-Frank to remain basically eliminates most of the derivatives swaps market and either forces it underground or abroad, both of which are not helpful. They're really getting at that they don't want any FDIC banks to be involved, which means forming whole separate companies.
Every industry spends money on lobbying from financial services to cattle farmers. I laughed at this guy's rant about it. You can pick any industry and say their lobbyist's are trying to influence outcomes. I mean, those evil Find a Cure for AIDS lobbyists! But that's in essence what he's whining about. Of course, this would probably be less of a problem if Congress could keep it's staff without paying them ridiculously low salaries and expecting tremendous workloads all the while being the scorn of America...yet this guy could care less.
