Wall Street Reform and Consumer Protection Act
Cry Wolf Quotes
Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s "invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.
Recently, Washington has been great at issuing overly complex and ineffective regulations—breeding uncertainty among America’s job creators and stifl ing their ability to grow the economy. To add insult to injury, Congress and the administration are considering myriad new regulations to pile on top of business owners, threatening to make it even harder to keep their doors open.
The legislation introduced by these Senators today rightly recognizes that the Fed’s rule will cause significant and immediate harm to community banks, consumers and the broader economy.
Our concern is that ... it will create a one-size-fits-all federal system that will marginalize both directors and shareholders.
