Federal oversight overhaul -plain english

[JustMeUC]

Can someone explain really short and sweet? Any and all opinions also welcome!

 

[OAG]

This reminds me of my long ago Army days. If some policy is not working, change it! Give it an appropriate amount of time and if the new one does not work, change it. Never ending trek. I do not know if this is an explanation or not but it is an opinion.

 

[Goonie]

This reminds me of my long ago Army days. If some policy is not working, change it! Give it an appropriate amount of time and if the new one does not work, change it. Never ending trek. I do not know if this is an explanation or not but it is an opinion.

"New & Improved"

(usually it's neither really....just the same ol' same ol' with a fresh coat of paint or a squirt of perfume)

I heard a news commentator on one of the Chicago radio stations this morning with an interview clip of someone (I don't recall who it was, or all of the details, since I was just waking up).....anyway, the interviewee stated that it was basically just another layer of crap that may sound all wise and good, but in the end it won't be enforced any better than any of the other 'safeguards' have been over the years. Just a bunch of election year mumbo-jumbo. Only time will tell.....but I'd wager that by this time next year, it will have been swept under the rug somewhere.

 

[Notmuchlonger]

I heard something like 2 to 8 years before it would even start to work. Ill pay attention then.

 

[d]

there is some virtue in waiting to pay attention! it will take considerable time for this to get through congress, and since there are many oxes to be gored, and political favours to be earned and turfs to be protected, the proposal at this point will likely look very different by the time any change is made. given the election cycle, any immediate comments (from the pols) on the proposal should also be taken with more than a few grains of salt.

 

[Notmuchlonger]

Ya after every special interest group gets what they want put in. The dems are happy the republicans are happy. We will see what gets spewed out.

 

[W2R]

there is some virtue in waiting to pay attention! it will take considerable time for this to get through congress, and since there are many oxes to be gored, and political favours to be earned and turfs to be protected, the proposal at this point will likely look very different by the time any change is made. given the election cycle, any immediate comments (from the pols) on the proposal should also be taken with more than a few grains of salt.

Exactly, and not only that, with the upcoming change in administration all bets are off! This might end up being simply a first cut at something that will take a while to shape and refine, or which might even be ditched, depending on how things shake out after the election.

 

[d]

i expect both sides of the aisle are looking forward to this, and it certainly will not be decided within the current administration.

 

[Purron]

Ya after every special interest group gets what they want put in. The dems are happy the republicans are happy. We will see what gets spewed out.

I think you nailed it. I worked for one of the financial regulators for 13 years. The special interest and trade groups have tremendous power over the regulators. My hope is this is curtailed but I have my doubts.

 

[barbarus]

As someone else said,
"The horse has run away, quick, close the barn door".

 

[brewer12345]

Can someone explain really short and sweet? Any and all opinions also welcome!

All regulatory power over anything vaguely resembling a financial institution is suggested to be concentrated in the hand of the Fed is what it pretty much boils down to.

Proposal is DOA, IMO.