G.K. Chesterton, the early 20th century British writer, said that when you break a big rule you get a whole bunch of little rules. The Dodd-Frank Act validates that statement. The simple rule of doing unto others as you would have them do unto you was violated by fast-talking mortgage brokers and short-sighted investment professionals; the result is an 849-page law with 387 sets of rules. About 10 months after the Act was signed, we are beginning to get a sense for the magnitude of this law.
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