We have seen the future, and it sucks.

SEC Commissioner Blasts Dodd-Frank

21st January 2013

Read it.

Securities and Exchange Commissioner Daniel Gallagher blasted the Dodd-Frank financial reform bill in a speech to the United States Chamber of Commerce Wednesday afternoon.

“It’s a perfect example of not letting a good crisis go to waste,” Gallagher said. The president signed Dodd-Frank on July 21, 2010. Democrats Sen. Chris Dodd (Conn.) and Rep. Barney Frank (Mass.) have since retired from Congress.

My, what a surprise! Aren’t you surprised? I’m sure surprised.

“The act is a model of the new paradigm of legislation,” he said. “A good concept, in this case regulatory reform, overwhelmed by a grab bag of wish list items.”

Sounds like most legislation these days.

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