September 29, 2010 Reading Time: < 1 minute

“Describing the financial industry as “hobbled, but moving forward,” Carson acknowledged the need for reform, but cautioned that not enough attention has been given to how to pay for it. ‘The cost of what is envisioned here is absolutely staggering,’ Carson said. ‘The number of people (who need to be) employed to comply with the regulations is uncounted and probably uncountable, but it’s going to be huge.’

Jordan estimated that the 2,300-page bill will result in more than 15,000 pages of new rules and regulations for financial institutions to follow.” Read more

“Fed Seminar Probes Financial Reform” 
James Dowd 
The Commercial Appeal, September 29, 2010. 

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