Some thoughts on this:
1. A consumer watchdog agency is created to protect the public. The watchdog is to be housed inside the Federal Reserve,that is not Federal and not a Reserve in any case. So who is to watch the watchdog? I guess it’s better than nothing.
2. Limits on CEO compensations. that’s good, it gives the shareholders voting rights. CEOs can’t cook the books, get paid MILLIONS and then release the real books.
3. Won’t let the companies get TOO BIG. Who determines this? In any case they are trying to avoid another AIG.
Please read the summary at this link.
