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Friends of Obama Allowed to Opt Out

ahealey67 Wrote: Jun 04, 2012 8:29 AM
Where on earth does something like this happen? Oh wait - Mexico, thats it!

Emigrant Bank was recently identified to receive a waiver that would allow the bank to opt out of rigorous Dodd-Frank requirements. These of course are the same new rules and regulations that Barack deems essential to the nation. Yet when the bank’s owner, Howard Milstein, who is a close friend and was a bundler for President Barack Obama’s 2008 campaign, protested that the new rules would seriously crimp operations of his bank, the Obama Administration worked with members of congress to grant him a waiver from the new rules.

Other financial institutions and banks have consistently and vehemently argued...