From taxis to banks , rule is speedily captured to stifle competition. Only it's unremarkably polite non to enjoin it out loud. Today's WSJ has a lovely piffling slice , Regulation is Good for Goldman confirming the old together with violating the latter pattern.
the Goldman Sachs CEO explained how higher regulatory costs are crushing the competition.
“More intense regulatory together with applied scientific discipline requirements accept raised the barriers to entry higher than at whatever other fourth dimension inwards modern history ,” said Mr. Blankfein. “This is an expensive draw organisation to live on inwards , if you lot don’t accept the marketplace portion inwards scale...
he said his depository fiscal establishment is “prepared to accept this human relationship amongst our regulators”—and the regulators are prepared to accept a deep human relationship amongst Goldman—“for a long time.”
.. it is odd to run across a fiscal CEO similar Mr. Blankfein dry soil the lawsuit then candidly. Goldman tin afford to hire battalions of lawyers together with lobbyists to commune amongst regulators... As e'er , powerful regime mainly helps the powerful.I accept met several people who started fiscal companies inwards the pre-Dodd-Frank era. They all enjoin at that topographic point is no agency they could commencement their businesses now. Working out of the garage , you lot can't afford a multi-million dollar compliance department.
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Banking
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