CHAPTER 10
AN ARBITRARY AND SOVEREIGN POWER
The natural progress of things is for liberty to yield,and government to gain ground.—Thomas Jefferson
More than 800 pages long, the Dodd-Frank “Wall Street Reform and Consumer Protection Act” makes some 398 rulemaking requirements. These will translate into thousands of pages of regulations spread over a dozen government agencies—two brand-new, and one endowed with unprecedented power.1 Since this is a book rather than a multi-volume encyclopedia, we can’t unpack the details of it here. What we can do is shine a spotlight on a few frightening and dangerous characteristics of the act and the actors behind it.
WHO REFORMS THE REFORMERS?
In a sense, the fact that the act is named after then-Senator Chris ...
Get Infiltrated: How to Stop the Insiders and Activists Who Are Exploiting the Financial Crisis to Control Our Lives and Our Fortunes now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
