Wall Street Reform Passes

Here's a pretty good overview of what's in the bill and a little about the process that created it.

Wall Street Reform Passes

This bill may help protect the economy from the greedy elites but i'm not holding my breath. Bankers have a way of working around regulation and after a few years they'll have their people in all the right "regulatory" positions and will be gaming the system again.

Also, I liked this line.

A team of Goldman Sachs analysts predicted in a Tuesday research note that the legislation will annually cost Bank of America about $4.4 billion, Citi about $3.7 billion, JPMorgan about $5.3 billion, Morgan Stanley about $900 million, and Wells Fargo about $2.2 billion....

I wonder how much it will cost Goldman Sachs?