When Congress passed the Dodd-Frank Reform Act earlier this year, a lot of skeptics thought it was like lighting the fuse for the next big blowup.
Look, I understand where the skeptics are coming from. Given enough rope, bankers will inevitably hang themselves in search of an extra percentage point of return. Which would be fine, if their stunts weren't a mortal financial danger to the rest of us, too.
But I'll show you that just isn't the case. The new law didn't leave them anywhere near enough rope.
There is no one on the planet who keeps a closer eye on bankers than I do. After all, I have a lot of my own money – and, more importantly, my wife's "I will kill you in your sleep if you lose my money" IRA account – invested in bank stocks.
If I thought for a second that the Dodd-Frank Reform Act would hurt the banking sector, I'd run for the hills.