“Congress is messing up the nation’s banking and healthcare sectors by passing laws without giving much thought into their consequences, says Wayne Rogers, investor, entrepreneur and former star of the TV series “M*A*S*H.” Big government, big corporations, and big labor are “all in cahoots to strangle the entrepreneur,” he told Newsmax.TV. in an exclusive interview.
Financial-reform laws are making banks so big that they’re threatening the health of the financial sector, while an overhaul of the nation’s healthcare sector, popularly known as Obamacare, needs to be readdressed.”
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Fucker’s right, but I bet he sure hates your headline, lol!
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The lawmakers make shit ever more complicated. The result is you need a bunch of experts and departments of experts to navigate the system. The little guy cannot compete with the massive corporation in this regard.
“Financial-reform laws are making banks so big that they’re threatening the health of the financial sector”
Sounds like he’s been asleep since MASH went off the air.
@ottnot — you’ve done a bit of bank M&A recently?
That’s exactly what Dodd Frank is doing to the smaller banks… forcing consolidation so only a few slow but extremely powerful behemoths survive. Typical fascist legislative action.
No, Jake. I wasn’t involved in the wave of bank mergers in the 1980s.
I wasn’t involved in the wave of bank mergers in the 1990s, either.
However, I do seem to remember a little problem with the health of the financial sector in recent years – before the financial reform laws.
So, I conclude that Wayne Rodgers (with Jake Gint volunteering to ride along with Wayne – Garth? Is that you?) either:
–slept through the the last few decades of consolidation and the massive recent (current?) financial crisis
–or, doesn’t really give a shit about financial crises or small banks, but does like to piss and moan about any legislation that had a D involved.
If you are concerned about the big banks, the problem isn’t the specific legislation. If you made the legislation and Frank and Dodd disappear today, the big financial firms would just cultivate another few Senators eager to help the industry out. They might even find someone willing to give them more of what they want and less of the things they didn’t like about Dodd Frank.
If you favor efforts to reduce the influence of campaign donations in US politics count me in.
Top Contributors
Senator Chris Dodd
Contributor Total Indivs PACs
Citigroup Inc $426,794 $380,794 $46,000
United Tech. $399,900 $364,700 $35,200
Royal Bk of Scot. $328,350 $331,350 $-3,000
JPMorgan Chase &Co$300,323 $254,350 $45,973
SAC Cap. Advisors $293,700 $293,700 $0
AIG $285,238 $242,618 $42,620
Goldman Sachs $271,166 $220,166 $51,000
Deloitte & Touche $270,220 $235,220 $35,000
Travelers Companies$250,650 $239,050 $11,600
Bear Stearns $233,800 $223,800 $10,000
Morgan Stanley $212,025 $178,025 $34,000
Credit Suisse Group$193,550 $168,050 $25,500
General Electric $188,380 $159,150 $29,230
Merrill Lynch $184,950 $163,950 $21,000
PricewaterhouseCoopers $178,650 $114,650 $64,000
Ernst & Young $168,350 $132,350 $36,000
Hartford Fin. Serv$166,100 $146,100 $20,000
KPMG LLP $160,690 $140,690 $20,000
Lehman Brothers $151,800 $126,400 $25,400
UST Inc $146,100 $110,600 $35,500
I struggle to keep up with the East Coast circles.
BRA pulls eject hatchet, continues banking Fx coin.
P.s. As mentioned, I offered NFA and CFTC what I thought of them last Fall.
Yep.
JFK and Teddy losing their brains was a part of that discussion.
Oil company was ready to “Angel” me into commercials.
I can’t make this shit up… .
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