The White House blog as an entry from Dan Pfeiffer, the White House Communication Director put out a list of the top 10 lobbyist loopholes in the Wall Street Reform bill.
- Okay, consumer protection rules are fine… Just don’t enforce them.
- Letting non-banks play by a weaker set of rules.
- If you can’t kill consumer protection new, starve it to death later.
- Preventing states from protecting their own citizens.
- Removing the derivatives trading requirement to protect Wall Street profits.
- Stretching the derivatives “End-User” exemption into a hedge fund loophole.
- Creating an “AIG loophole.”
- Who needs to know what’s happening at insurance companies.
- Letting firms make loans without skin in the game.
- Preserving “Too Big to Fail” while pretending to kill it.
I would think regardless of which side of political pole you are you could agree that these need to go from the bill.