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Dodd-Frank threatens to reduce credit availability by $1.2 trillion
The American - Enterprise Blog ^ | April 16, 2012 | Peter J. Wallison

Posted on 04/18/2012 8:35:45 AM PDT by SumProVita

The Financial Times today carries a story that U.S. banks have been resisting a new Fed regulation—issued under the Dodd-Frank Act—that would limit their credit exposure to one another. According to the article, the banks have data showing that this would reduce credit availability by about $1.2 trillion.

Similar restrictions will apply to all nonbank financial firms—insurers, finance companies, securities firms, hedge funds, and others—that could be designated as systemically important financial institutions (SIFIs) by the Financial Stability Oversight Council (FSOC), a group of federal financial regulators created under the Dodd-Frank Act. If that occurs, these firms will become subject to the Fed’s regulation and credit availability in the U.S. economy will be further restricted

(Excerpt) Read more at blog.american.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: doddfrank; economy
Looking at the REALITY of government intrusions...

Will ALL of the American electorate wake up soon enough?

1 posted on 04/18/2012 8:35:54 AM PDT by SumProVita
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To: SumProVita

I have a friend/client who is a mortgage broker. He is livid with all the new rules and regs in Dodd/Frank. It’s like listening to horror stories around the campfire. He’s hanging on (like me) in hopes of an administration change in November. If that doesn’t happen ...


2 posted on 04/18/2012 8:52:49 AM PDT by Liberty Valance (Keep a simple manner for a happy life :o)
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To: SumProVita

Dodd and Frank got their millions, their friends got their millions, then they said to everyone else “Screw you!” and rode off into the retirement sunset.


3 posted on 04/18/2012 8:53:33 AM PDT by Terry Mross
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To: Terry Mross

It’s called the good old boy club in D.C.,all the more reason for term limits.


4 posted on 04/18/2012 8:56:39 AM PDT by Vaduz
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To: Liberty Valance
My son is also a banker. Said that they have one person who's job it is to wade through the 3000 pages of this pos and try to make sense of it and keep the govt. off their back.

For all to know: It replaced the Glass-Stegal Act which worked since the Depression and was just 7 pages.

5 posted on 04/18/2012 9:07:48 AM PDT by Parmy
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To: SumProVita

What’s going on in this country is a little like very bad blonde jokes, one right after another, followed by hours and hours of Epic Fail videos.

The missing parts of the DNA sequences now live in and run DC. They’re free radical carcinogens.


6 posted on 04/18/2012 9:11:14 AM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: Liberty Valance

Same here. I have a business collegue who said Obama put her out of business w Dodd Frank and she has been in banking for 20 years.

When I here people cheering on an obama second term out of spite it makes me puke - my business and millions others will not survive and I will count those people just as responsible as obama himself.


7 posted on 04/18/2012 9:19:36 AM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: SumProVita

good!!!

90% of people getting credit shouldn’t have it!


8 posted on 04/18/2012 9:25:34 AM PDT by dalereed
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To: dalereed

Maybe, but the 10% who “should” get credit are probably 90% of the dollars, and they will be impacted by the nonsensical Dodd-Frank.

Cheering government intervention leading to a lack of credit supply is pretty short-sighted. You are assuming that they know what they are doing and are limiting credit in the “right” places.


9 posted on 04/18/2012 9:35:21 AM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: GlockThe Vote

Sarbanes-Oxley was another disaster


10 posted on 04/18/2012 9:43:50 AM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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