Comments on: ANALYSIS-Small US banks fear new regulations may be costly Mon, 31 Oct 2016 15:40:16 +0000 hourly 1 By: davidvanr Fri, 24 Jul 2009 12:06:47 +0000 New regulations are always costly. But they are great for the economy, creating numerous jobs for professionals that have to be hired to insure compliance with all those regulations. How many millions of jobs depend directly or indirectly on the byzantine labyrinth of the US tax code ? In Switzerland– which has a very high concentration of professional jobs for finance and accounting experts, skilled managers, laywers, and comptrollers– one has only to consult elite recruitment sites like to see the number of jobs directly related to compliance and legal in the finance and banking field.
So one can therefore, is disagreeing about the extent of its effectiveness, consider all the new post-near-meltdown regulations as a sly ‘stimulous plan.’