InvestorCenter

Banking After Dodd-Frank

by Morgan Housel, The Motley Fool Jun 30th 2012 4:00PM
Updated Jun 30th 2012 4:04PM

The following video is part of our "Motley Fool Conversations" series, in which columnist Morgan Housel discusses topics across the investing world.

Mitt Romney has vowed to repeal the Dodd-Frank financial reform act if elected president. Conventional wisdom says that will be great news for big banks like Citigroup (NYS: C) , Bank of America (NYS: BAC) , and JPMorgan Chase (NYS: JPM) . But that might not be the case. Watch here to find out why. Fool contributor Morgan Housel owns preferred shares of Bank of America. The Motley Fool owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »
View All Courses

Add a Comment

Sign in »
*0 / 3000 Character Maximum

1 Comment

Filter by:
Artie

This stupid article and one's like it just serve as an illustration that NOTHING has changed on Wall Street. The same BS and proprietary trading with all the alphabet soup derivatives and black hole money shenanigans still exists. Thank the Clinton administration and folks like former Fed Chairman Greenspan in part for championing the repeal of the Glass Steagall Act. Of course, this was all at the behest and insistence of those greedy and duplicitous Wall Street "wise guys" and "banksters." As of this writing, not one of these bastards has gone to jail. Saying that Gov't regulators have "no teeth" and are useless is beyond obvious. The problem is that the greedy bastards have way too much money and influence and own congress. They simply find ways to circumvent any regulations by buying off congress and writing the regulations themselves. We need to immediately bring back Glass Steagall for starters and throw a few of these crooks in jail. You can bet that any newly written regulations (Dodd-Frank) will have more holes in it than Swiss cheese. Dodd Frank has already been watered down to the point of uselessness. It is child's play for these banks' highly paid law firms and lobbyists to run circles around the regulators and find loop holes in weak and ambiguous regulations. It's just a matter of time before these same crooks and banksters plunge the global economy into another abyss at the expense of the middle class and those least able to absorb the aftermath.

July 01 2012 at 3:33 PM Report abuse rate up rate down Reply