July 21, 2010
By Futures Staff
There has been much cheerleading and jeering over the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama July 21, coming from those that have been supporting/opposing the effort all along. However, those whose job it is to provide a more measured analysis of the law are less certain of its ramifications. A lot of details have been passed over in legislation and are to be fleshed out in the regulatory rulemaking process.
While this would be the case to a certain extent with any such large legislative effort, it appears doubly so in this instance. “I don’t think there is any question that just about every time they could not get unanimity on a particular term they said ‘OK we are going to fob it off.’ Yes there is going to be a lot of rulemaking,” says former Commodity Futures Trading Commission (CFTC) Chairman Philip McBride Johnson, of counsel for Skadden Arps…
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Last Updated: August 6, 2010