The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( TheStreet) -- The specific aim of the Dodd-Frank legislation was to promote financial stability in three ways: (1) improve the accountability and transparency of financial institutions; (2) end "Too Big To Fail" (TBTF); and (3) protect consumers from abusive financial practices.
|Dodd-Frank was, from the beginning, doomed to be just another device of regulatory strangulation.|
Much of the nonsensical practices we see in the financial sector today, like having to be delinquent to get anybody's attention, or not being able to get your financial institution to modify your loan without a massive cash infusion because the loan is underwater, are already due to regulatory constraints. Just think of the unintended consequences of a whole new set of rules and regulations!
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