Davis Polk Summarizes Fin Reg Reform... In 130 Pages

Anonymous's picture

For all those who have been hoping for someone to condense Donk's 2000+ pages into something that does not induce a coma, below is FRBNY's favorite law firm, Davis Polk, attempted summary of financial regulation... in 130 pages. Davis Polk estimates that 243 new rules, and 67 new reports have to be created before Donk is fully enacted. Which simply means that it probably will not be before 2018 (when Basel III's full guidebook becomes policy) that even the current version of financial reform is close to full implementation. And as Christine Harper slams the farce that was signed by Obama to much pomp and circumstance with the pen of each corrupt politician who was instrumental in the creation of this act of weapons grade stupidity, the crash of 2015 will occur long before any realistic reform is implemented. Of course, realistically speaking now that HFTs have free reign over the market and the SEC has given up regulating every and anything, the next crash will occur much, much sooner.

 

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CrockettAlmanac.com's picture

Hey, this post is currently listed as submitted by ______ (blank) with a bag-over-head avatar. Additionally this post contains the word "Donk."

Bob Chapman is that you?

nmewn's picture

"Davis Polk estimates that 243 new rules, and 67 new reports have to be created before Donk is fully enacted."

Shovel ready.

Implicit simplicit's picture

Dodd-Frank will be married at Ganksters  of America in a ceremony perfornmed by Gladman Sucs and paid for by Chase, Citi, and Welles Fargo

CrockettAlmanac.com's picture

Just don't tell me that they're going to put Barney Frank in one of those French McDonald's commercials. The thought of seeing him "come as you are" frightens me.

nmewn's picture

I guess the RICO Act has been repealed ;-)

williambanzai7's picture

When it takes a Davis Puke Task Force 130 pages to regurgitate a statute you can bet your third mortgage nothings gonna change any time soon.  

tamboo's picture

crash before sept 24?

"Mark said (August 7, 2010):

thought the article on 'Solitary Man' was interesting (as is most of what you write). I'm pretty much to the point that I don't watch a movie without a clip board in my hand.

Michael Douglas' next movie will be the sequel to the 1987 movie, 'Wall Street', where he will be reprising his role as Gordon Gekko. To anyone capable of checking their belief systems at the door, there is clearly an occult element to the movies that get made in Hollywood.

The 1987 movie was released in December right after the market crash. While most are unaware of this connection, or even believe that they are somehow related, even fewer are aware that Hollywood released a movie called 'Wall Street' in December of 1929, right after the crash. What a coincidence, RIGHT?

These movies were acts of occult ritualism and the crashing markets were essentially blood sacrifices.

The next incarnation of 'Wall Street', starring Michael Douglas comes out September 24th.
My guess is that the 'coincidence theorists' are about to get their financial heads handed to them.

HEADS UP!!!"

http://www.henrymakow.com/solitary_man_-_jewish_morality.html

jimmight's picture

Finding and shorting Chinese frauds is turning into a nice little cottage industry. Soon everybody is going to be looking for their own.
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