Elliott Management’s Paul Singer Speaks Aganst Dodd-Frank

Paul Singer, fund manager of Elliott Management Group and favorite of the Tiger21 club, recently spoke to members of the Federalist Society at a conference in Washington on Thursday reports MarketWatch.

Paul Singer Speaks Against the Dodd Frank Act

Paul Singer criticized the Dodd-Frank law. Singer argued that the law, which was implemented as part of efforts to prevent another financial collapse, enshrined banks that are “too big to fail” while, at the same, creating an environment in which regulators would be hard pressed to fulfill their new obligations. In his speech, Singer called the law’s ability to eject top executives from failing banks as “preposterous,” asking attendees, “Can you try to imagine the FDIC throwing out the entire management of the firm and having [former FDIC chief] Sheila Bair’s successor and others at the FDIC running these complex institutions?”

Paul Singer ELLIOTT MANAGEMENT

Dean Baker Seconded Paul Singer’s Concerns

Paul Singer was not the only speaker to raise objections about the Dodd-Frank laws. According to MarketWatch, “Other participants at the conference also raised concerns that the statute preserves the perception that the big U.S. banks are ‘too-big-to-fail’ and that they will be bailed out in the event of another crisis.” Amongst the neigh sayers was Dean Baker, co-director for the Center for Economic and Policy Research, who “argued that the biggest U.S. banks continue to have substantially lower costs of funds than the rest of the banking sector… that the largest institutions should be broken up and that large banks do not need $1 trillion in assets… to achieve economies of scale.”

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!