Most of the length, complexity and questions are in there because of industry lobbying. You can’t demand and insist and lobby for all these rules and exemptions and then complain that it’s too long and complex.
Dennis Kelleher of Better Markets, a financial regulatory reform group. Kelleher is talking about the Volcker Rule, which has become so bloated and vague that it is on the verge of death, which will be a big win for the big banks. How the Volcker Rule got this was is a pretty interesting story.
Notes
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