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if the banks and wallstreet had it their way, there would not be many regulations
by nano111 13y ago
if the banks and wallstreet had it their way, there would not be many regulations
- jpadkins 13y agodemonstrably false. The major wall street banks have lobbied for arcane regulation for decades. See of all the inclusions at their request into the Dowd-Frank bill, or SarbOx, etc. The federal reserve act of 1913 was the a major step up in regulation of the banking sector, and was primarily pushed by the largest banks at the time. Former lobbyists have stated that their stated strategy is to create barriers to entry in legal compliance costs so smaller competitors can't effectively compete.