David Weidner in MarketWatch tells MHProNews that President Obama has made a bad situation worse with Dodd-Frank. “You don’t need to ask the fact checkers, however, to know the president did very little to rein in Wall Street. If anything, he made a bad situation worse.” Weidner stated that “Instead of returning to the 37-page simplicity of Glass-Steagall, the Democrats pushed through an 849-page law aimed at regulating every business, every transaction on Wall Street. Dodd-Frank has only served to fatten law firms and compliance consultants.” The too big to fail firms are now bigger than ever. As one manufactured housing lending executive told MHProNews on condition of anonymity, that legal compliance costs with Dodd-Frank are so high, that it is a killer to our Industry. It makes it harder and harder for all but the largest lenders to survive. ##
