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News Link • Economy - Economics USA

Banks’ Lobbyists “Help” in Drafting Financial Bills

Who writes the laws? The lobbyists.This isn’t completely true, but it is true to a very large extent as this article explains. The thicker the law, the more opaque the legislation, the more opportunities there are to make money. There’s a reason Obamacare is a stack of papers taller than a man, same for Dodd-Frank. Both laws deal with impossibly complex areas of the economy best left to market mechanisms. To a very large extent the problems which both Obamacare and Dodd-Frank seek to address, access to healthcare and a corrupt banking system respectively, are problems created by prior government involvement in the marketplace.

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