Thursday, September 20, 2012

Regulators Fail on Junkpile Legislation

The best trick that Congress has is to pass legislation which is implemented by regulators.  That way, Congress (ALL the bastards) can wash their hands of the results.  It's Junkpile Legislation--just toss any old idea into the pile and hope that 1)  the public won't notice; and 2) that the regulators can sort it all out.

Sometimes it doesn't work the way the rat-bastards hope.

Federal regulators have missed the statutory deadlines on 145 of the 237 rule-making requirements in the 2010 Dodd-Frank financial regulation bill, according to a top financial-regulation analyst.

After a bill becomes law, it’s up to executive agencies to write rules implementing the legislation. Dodd-Frank was more than 2000 pages, and the legislative language was a wonderful mix of complex, vague, and open-ended. The result is a huge burden on the SEC, the Fed, and other federal agencies. And they’re not meeting those burdens.

Dodd-Frank, like ObozoCare, is Junkpile Legislation. It cannot work in the real world--but if you don't do whatever it is that Congress intended--you'll go to prison.



Jim said...

It might help if the Republicans in the Senate would approve an Obama nominee to head the agency.

Anonymous said...

Shut the fuck up, Jim.

Dad29 said...

No, it wouldn't Jimbo. It would help if the republicans had the balls to nuke the agency beginning January 2013.