http://www.addictinginfo.org/2015/04/16/obamas-financial-reform-just-made-the-world-a-little-bit-safer-for-the-other-99/
"One of the things Dodd-Frank did was force companies like GE to play by the same rules as banks and SURPRISE! GE wants no part of it. It’s no fun to play if you have to play fair. So now GE is dropping its “shadow banking” division and the financial industry just got a bit safer.
Exactly what Obama’s financial reform promised to do. But SHHHHHH! Don’t tell anyone!
The funny part about this is that Republicans swore on a stack on Bibles that Dodd-Frank would make banks and faux-financial institutions like GE act even MORE recklessly since they were legally designated as SIFI or “systematically important financial institutions” (translation: Too Big To Fail). Republicans “reasoned” that these companies would rely on the government to bail them out again.
Of course, Republicans were full of it because they knew that Dodd-Frank would impose severe restrictions on “Too Big To Fail” banks and companies. These restrictions would force them to keep enough money on hand to make bailouts unnecessary. Essentially, Dodd-Frank told the SIFIs that they could gamble all they want but they had to be able to pay their gambling debts in full if they crapped out. If there is one thing the rich hate more than poor people, it’s gambling with their own money. Republicans get really sad when the 1% can’t have their cake and eat it, too. And your cake. And his. And hers. And that guy over there’s cake, as well.
Dodd-Frank may not be perfect, but it’s making the world just a little bit safer from the greed and depredations of the rich. And any day that the rich lose a bit of their ability to destroy lives is a good day in my book."
