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Financial Regulation Bill’s Death May Raise Market by 2,000 Points

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Financial firms are clamoring to thwart the proposed financial regulation bill.

In an interview with CNBC, Steve Forbes, Chief Executive Officer of Forbes Inc., shared his outlook. He said that the market is expected to go up by 2,000 points if the bill dies.

He added, “There’s so much bad stuff in this, it perpetuates too-big-to-fail, it hurts small banks and businesses.”

He claimed that the bill can be construed as a “semi-takeover” by the government. He said that pursuant to the bill, the firms would be more dependent on discretion by bureaucrats.

He also criticized the derivative-trading operation clause in the bill.

 

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