Phil Hauck's TEC Blog

Tuesday, November 23, 2010

Next Chapter: Why Is Our Government System So Obtuse?

I’m informed by a friend at Associated Bancorp, which will now have to deal with the cost increases of the Dodd-Frank reaction to the credit crunch/mortgage problem, that the paperwork reporting requirements will skyrocket. Whereas now there are about 30 key Regulations that bankers must follow and report on, the Dodd-Frank bill proposes 263 more. These are for banks which didn’t cause the problem. In addition, there will be required 22 new annual reports, and 67 one-time ones.

1 comment:

  1. If you don't understand a function or business, regulate it! Government is all about power and control. It almost always deals with issues through broad, far reaching policy changes without trying to understand what the full impact of new policy or legislation might be. Take Care, Dave