So the outgoing chair of ISDA complains that banks will have to pass on the costs of Dodd-Frank to end users of derivatives. Undoubtedly the usual crowd -- primarily the WSJ op-ed page -- will run with this evidence of yet another hit to American competativenes coming out of Dodd-Frank.
We all know that banks are allowed to charge customers for things that do not cost them anything, but I guess I just assumed that they did this only to consumers. Silly me.
Mike has done a great service to us chapter 11 types over at Rortybomb, by aggregating all of the quotes from the FCIC report regarding the 2005 expansion of the safe harbors on the Code.
And so it begins. We're about to witness the main event in financial institution internecine warefare: investment funds (MBS buyers) vs. banks (MBS sellers).
