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Dodd-Frank's Problems -- and Potential Solutions

anglers reward Wrote: Jan 07, 2013 10:51 AM
Found out something yesterday that most Americans probably don't know. Went to a local bank and in conversation with the Manager there, was told that their bank weathered the last 5 years fairly well, but was still greatly impacted by the rules and regulations Washington has burdened them with. This small local bank used to be charged by the government $45,000.00 a year to be insured by the FICA. NOW, it's $450,000.00 a year. What's WORSE, is that though bank customers are 'insured' up to $250,000.00, the government is 'allowed' 99 (NINETY NINE) YEARS to pay it back to the bank customer. Some 'sweet' insurance policy for government, just like Social Security. Politicians simply STEAL it.
Over the next year, we will probably see much controversy over the implementation of Obamacare. Health insurance is something that almost every adult has some acquaintance with, and there seem to be glitches aplenty in the legislation, much delay in issuing regulations and some possible changes resulting from litigation.

We're likely to see or hear less about the operations of the Dodd-Frank financial regulation legislation, passed four months after Obamacare. Most of us don't work at banks or financial institutions, which will have to grapple with its myriad provisions and the regulations to be issued thereunder, and we tend to toss...