The Banks Aren’t Giving an Inch

July 14th, 2013 by Rick Drain

Jamie Dimon and other Wall Street leaders continue to publicly bemoan the fact the 2010 Dodd-Frank financial industry reform act. They complain about having to deal with too much “uncertainty.”

Behind the scenes, though, they’re doing a give-no-ground defense against many of the reforms we most need, precisely because they reform practices the banks have used to our harm and their profit. Where they can, they de-fang. Where they can’t de-fang, they delay.

Sarah N. Lynch of Reuters picks up the story:

SEC frustrated over pace of U.S. financial crisis reforms

 

Longsplice rope

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