The Corner

The Straight Dope on Financial Regulation

You’ll be surprised to hear that the Dodd bill apparently has a loophole or two in it. But don’t worry, one anonymous lobbyist told HuffPo what you’ll need to do to get your financial firm into one of your own:

“Obtaining a carve-out isn’t rocket science,” said a Republican financial services lobbyist. “Just give Chairman Dodd [D-Conn.] and Chuck Schumer [D-N.Y.] a s***load of money.”

Ah, markets at work: Wall Street has a s***load of money and needs loopholes, Washington has a s***load of loopholes and needs money.

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