Friday, July 16, 2010
The Uncertainty Principle - WSJ.com
Government at work again, with policies, rules, and regulations, that cannot be helpful for businesses.
Could I be missing that businesses may actually have to HIRE people to comply with the government's demands?...
Could I be missing that businesses may actually have to HIRE people to comply with the government's demands?...
The Wall Street Journal editorializes about the Financial Reform bill:
"In a recent note to clients, the law firm of Davis Polk & Wardwell needed more than 150 pages merely to summarize the bureaucratic ecosystem created by Dodd-Frank. As the nearby table shows, the lawyers estimate that the law will require no fewer than 243 new formal rule-makings by 11 different federal agencies.
The SEC alone, whose regulatory failures did so much to contribute to the panic, will write 95 new rules. The new Bureau of Consumer Financial Protection will write 24, and the new Financial Stability Oversight Council will issue 56. These won't be one-page orders. The new rules will run into the hundreds if not thousands of pages in the Federal Register, laying out in detail what your neighborhood banker, hedge fund manager or derivatives trader can and cannot do."
