Re: What you should know about the Dodd-Frank Act
07-28-2010 05:13 AM
John1956 wrote: I'm sorry, but, I sorely disagree with the very last sentence above. We, the people, need every possible rule & regulation to make sure that dealers and creditors, etc aren't playing games with us. I would dare to say that if the HQs of the biggest banks were located in Heaven, they would still try to sneak a few things by us. The bottom line reason that there is need for rules and regulations, is that raw human nature cannot be completely trusted. Especially when it comes to $$$$.
There really needs to be a completely level playing field. It is alot like a war. Both sides want to get, or keep, as much $$$ as is realistically possible.
Funny...we should trust professional politicians to write the regs that will "protect" us. The same politicians whose campaigns are funded in part by the big banks and Wall Street.
And in skimming portions of the legislation (as posted earlier in this thread), I see a whole lot about "protecting the economy", but not a whole lot about "protecting the American people".
Just observing here...make of it what you will.