Dodd Frank: Oh What a Tangled Web We Weave (or, The Goose that Laid the Golden Egg)
On March 2nd, SEC Commissioner Daniel M. Gallagher issued a statement expressing his concern about the number and aggregate impact of regulations that have been imposed on U.S. financial services firms since the enactment of the Dodd-Frank Act. He presented a remarkable diagram of the rules adopted since July 2010 affecting U.S. financial services holding companies. It shows a sprawling network of rules emanating like spokes from an oval-shaped hub, representing a single US financial services holding company. The image recalls a golden egg sitting on a bed of squid-ink angel hair pasta; or perhaps a fat, amber-bellied spider crouched on its web. Click the image to see the full PDF.