On Monday, Sen. Chris Dodd was proud to announce that his financial regulatory reform legislation does not exempt auto dealers from new regulations like the House version did. "I don't want to be in the business of carving out large financial providers," said Dodd when he unveiled the bill. "I'm trying to allow the [Consumer Financial Protection Bureau] itself to make some determinations so we don't get into the business of picking winners and losers." But some economists and policy analysts say Dodd's draft makes winners out of private equity and hedge funds.
Dodd's Bill Soft On Private Equity And Hedge Funds, Say Critics
The Huffington Post News Editors, Huffington Post
Wed, 03/17/2010 - 3:42pm
Topics: sen chris dodd consumer financial protection bureau securities exchange commission slavkin huffpost doug lowenstein private equity council dow jones part federal reserve house economist dean baker center economic policy research long-term capital management the financial fix dodd sec baker private equity and hedge funds billion systemic risk pay wrote failure called released find loopholes exempt draft business monday legislation winners liquidation assets required ways system subject disclosures investors proposal bank
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