A regulatory board created by the Dodd-Frank financial reform could push trillions of dollars into big banks, driving up costs for struggling businesses and the government by doing away with alternative investment accounts, according to industry insiders.That's the solution, more regulation, and less capitalism.
Securities and Exchange Commission Chairwoman Mary Schapiro is pushing for tougher regulations on the $2.7 trillion money market fund industry (MMF) and may use the Financial Stability Oversight Council (FSOC)—a 10-member board made up of top financial regulators created by Dodd-Frank—to implement the restrictions.
Maybe the Feds, and the Five Big Banks, are too big and too cozy already?
The Five Big Banks have about 75% of the transactions now, maybe it should be a 100% in LibTopia.
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