Reason Magazine: Gene Epstein- 'Too Big To Regulate: Dodd-Frank'

Source:Reason Magazine- Economist Gene Epstein.

"The reason there is no mention of Fannie (Mae) and Freddie (Mac) in the bill, is because it's named after two of their puppets: Dodd and Frank."

Barron's Economics Editor Gene Epstein lays into the hypocrisy of the aforementioned Dodd-Frank bill at a Freedomfest 2012 panel titled "Too Big to Regulate," hosted by the Reason Foundation's Director of Economic Research Anthony Randazzo.

The panel focused on problems with overregulation in the financial services industry, with a specific focus on the Dodd-Frank legislation.

Held each July in Las Vegas, FreedomFest is attended by around 2,000 limited-government enthusiasts and libertarians a year. ReasonTV spoke with over two dozen speakers and attendees and will be releasing interviews over the coming weeks. For an ever-growing playlist, go here now." 

Source:Reason Magazine

"Too big To regulate", is generally a phrase that so-called Progressives (Democratic Socialists, in actuality) use to make their case that big banks and the health insurance industry are too big to make work well, in their minds. That we might as well just nationalize them and turn them into new Federal agencies, including Fannie Mae and Freddie Mac. To go along with Bank of America. (To use as an example)

But what Gene Epstein seems to be arguing in this talk, that the Dodd-Frank bill of 2010, the Wall Street reform bill is, too big to regulate, that it's impossible to understand. I disagree with that, but I would argue that Fannie and Freddie are too big to regulate and that they need to be broken up, not nationalize. But broken up into like 200 companies each and regulated as non-profit lenders and insurers of mortgages and perhaps other loans. 

But the fact is they are both still "too big to fail". And can't remain that way, while they are receiving tax dollars and are such a large part of the economy.