Democrats Send Jobs Overseas

Well, they did say that they didn't know what the result of the Dodd-Frank law would be. Here's one unintended consequence. At least I think it's unintended. The bill is already responsible for putting a great many small, regional banks out of business.

Why is Goldman Sachs pre paring to outsource traders, salespeople and investment bankers from here in America, where it has made untold billions over the years as Wall Street's premier trading firm, to places like Singapore and India? 

The answer can be found largely in the 2,000-plus pages of last year's Dodd-Frank financial "reform" law -- which will eventually translate into some 40,000 pages of regulations. The financial industry is still frozen, waiting to find out how bad these regs will turn out; but what all the CEOs of the big banks know for sure is that it's about to get a lot more expensive to do business here.

The only real question is by how much more expensive. And the banks aren't sitting around to find out.

More here.