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

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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