| From the article "NEARLY a year after President Obama signed into law a huge overhaul of financial regulations, little on Wall Street seems to have changed... Lawyers and accountants who were once the proud pillars of our financial system have become the happy architects of its circumvention.. Regulators appear to be dragging their feet on finalizing the tough new rules that the law, known as Dodd-Frank, authorized them to write. The Consumer Financial Protection Bureau has yet to get off the ground. State attorneys general are still pressing mortgage servicers for a financial settlement over the widespread fraud and abuse in lending practices.. Nowhere is this more the case than in the world of tax law. Companies (and wealthy individuals) pay handsomely for tax professionals not just to find the lines, but to push them ever outward." |
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At www.nytimes.com
At www.nytimes.com
