NEW YORK (TheStreet) -- House Republicans' condemnation on Monday of the Dodd-Frank Act, on the occasion of its fourth anniversary, may not effect investors' choices about where to put their money, said industry observers.
Rep. Jeb Hensarling, a Republican from Texas), spent part of the day slamming Dodd-Frank for failing to end government coddling of financial institutions known euphemistically as 'too-big-to-fail banks.' Hensarling called on his party'es leadership to to end such pussyfooting "once and for all."
While Hensarling no doubt won applause from constituents back in his district southeast of Dallas, the congressman's complaints are more likely a political move to attract attention to ongoing grievances by opponents of the sweeping reforms.
Ernie Patrikis, former AIG (AIG) general counsel and former vice president and general counsel for the New York Fed, pointed out one of those objections in an interview, calling Dodd-Frank reforms four years later a case of the "good, the bad and the ugly."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV