Gillian Tett of the Financial Times is shocked! shocked! to learn that Frankendodd: (a) has dramatically increased the complexity of financial markets; (b) creates myriad opportunities for regulatory arbitrage; and (c) gives advantages to big, sophisticated, politically juiced players that can decode, game, and influence the regulatory process most effectively.
Yeah. I can sympathize. It’s not like anybody could have seen that coming. Nosiree.