July 21st was the second anniversary of the Dodd-Frank act, the massive rewrite ofAmerica s financial system sold as an effort to prevent a repeat of the financial crisis. Thebirthday came just after, in characteristic form, a rule tied to Dodd-Frank for mortgagesimplification was submitted by the newly created Consumer Financial Protection Bureau: it runs to 1,099 pages and is packedwith clauses that could limit the availability of credit.
多德弗兰克法案是为了避免金融危机噩梦的重演,政府将美国金融体系出售并重建体系的声势浩大的运动。7月21日,是多德弗兰克法案二周年的纪念日,奇怪的是,在纪念日前夕,新成立的消费者金融保护局提交了涉及多德弗兰克法案抵押资产简化手续的规则。这项规则长达1,099页,而且还有各种可能限制信贷资格的条款。
The heads of America s large financial institutions rail privately about the costly andcontradictory demands of the Dodd-Frank act. But their criticism in public is measured, outof fear that it could prompt retribution by regulators or make them fodder for bank-bashingpoliticians. It is better, they say, quietly to lobby for preferential carve-outs, an approachthat may serve their own interests but only adds to the sense of systemic unfairness.
美国大型金融机构的头头们私下都抱怨实行多德弗兰克法案的高昂而自相矛盾的代价。但是,他们对条款的公开批评却是克制而不激烈的,因为他们担心过激言论会导致法令制定者迅速的报复,或者让自己沦为反对银行业的政客们口诛笔伐的对象。他们说,悄悄的游说有关部门、并争取优先carve-outa会好一点,此举可能带给他们好处,却也会给人留下系统不公的印象。
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