New Financial Regulation Bill
Late last night the new Finreg bill was passed, this is the new regulations for the financial ‘rules’ for the banking and financial industry. My early assessment is that this will hopefully curtail many of the practices that brought about our most recent recession, but this remains to be seen. Since this is a very complicated and lengthy bill it will take until next week before anyone can truly access the impact it will have on the markets. Many of the large financials are bidding up this morning but my observation is that it is a result of buy on the news hype action. Fortunately it will be too hot this weekend for golf so I will be reviewing the early reports and findings and will get out my observations early next week.
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