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There is a reason Goldman Sachs gives Hillary $325K a speech
Posted on: July 23, 2016 at 08:45:51 CT
mu7176grad MU
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Dodd Frank is just a tax on banks and a barrier to entry for competitors. Goldman is paying Phat Hill to keep that barrier in place
For the big boys its just cost of doing business For the community banks its a death sentence. We lose one community bank a day to Dodd-Frank.
From the WSJ: Even though community banks' earnings saw a rise of 12% to $5.3 billion in the second quarter of 2015, according to Federal Deposit Insurance Corporation FDIC, their number seem to be on the decline. With one community bank or credit union disappearing on an average each day, some medium and small businesses are finding it difficult to get loans. Today there are 1,524 fewer banks with assets under $1 billion than in June 2010 (before the Dodd-Frank regulations were signed into law); there were about 7,500 in 2010.
For the big boys its just cost of doing business For the community banks its a death sentence. We lose one community bank a day to Dodd-Frank.
From the WSJ: Even though community banks' earnings saw a rise of 12% to $5.3 billion in the second quarter of 2015, according to Federal Deposit Insurance Corporation FDIC, their number seem to be on the decline. With one community bank or credit union disappearing on an average each day, some medium and small businesses are finding it difficult to get loans. Today there are 1,524 fewer banks with assets under $1 billion than in June 2010 (before the Dodd-Frank regulations were signed into law); there were about 7,500 in 2010.
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There is a reason Goldman Sachs gives Hillary $325K a speech - mu7176grad MU - 7/23 08:45:51