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Of Consuming Interest - 05/21/10
May 21, 2010 John Berlau is the Director of the Centers of Investors and Entrepreneurs at the Competitive Enterprise Institute. Berlau has written about the impact of public policy on entrepreneurship for many publications.
Discusses the Economic Reform Bill which passed the Senate on May 19, 2010.
There were two weeks of debate in the Senate. The House has passed the Bill. The Senate and the House have to pass the same Bill to send it to the President for signing. This is the most significant change in regulating financial institutions since the New Deal. The main component of which is that the $6 trillion elephant in the room was not addressed - Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac standards have influences on loans which banks will make.
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