Is this another assault on American free-markets by the current Marxist administration? They’ve already taken over 2 of 3 American car companies. They’ve hi-jacked both the insurance and medical industries. They’ve regulated and over-regulated banking and finance, but the feds still aren’t done. Obama Administration sues 17 banks over risky lending practices. In Obama’s days as a Chicago community organizer, he sued banks to force them to make those loans. http://www.thegatewaypundit.com/2011/09/obama-administration-sues-17-banks/ What an interesting turn of events?
Frank Keating, President and CEO of American Bankers Association, recently wrote an article about current over-regulation and the impacts on small, local banks. http://online.wsj.com/article/SB10001424053111904875404576532871460271158.html
For more expert opinion from Peter Wallison see this page http://www.aei.org/scholar/58. He has written many American Enterprise articles, but the one I think is most relevant to this topic is titled “The Error at the Heart of the Dodd-Frank Act” link.
Interesting and amusing: People are finding creative ways to right some banking errors link.