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Monday, September 24, 2012

 
Obama's Other Rube Goldberg Legacy

The Dodd-Frank finance legislation. This remark leaps out at me.



Going after financial institutions because of false advertising or outright deceit is one thing; pursuing cases against them because their customers supposedly can’t understand the fine print is another — and frankly, I don’t trust the right-away-wrong CFPB [Consumer Financial Protection Bureau] to distinguish which is which.

Of course they can tell the difference. It's in the fine print of Dodd-Frank. :-)

Note a double standard. If customers cannot understand the fine print of finance institutions' rules, finance institutions may be liable. Is taxpayers cannot understand the fine print of the 1040 and its associated forms, taxpayers are liable.

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