Lawmakers and their staffs are now busy proposing hundreds of rules. (And some retail financial advisors are making changes to their businesses.) Some of them are downright stupid. For example, the New York Times reported yesterday that some of the rules are rather "exotic." Here is a quotation from the story:
"While the issue may be outside the S.E.C.’s core expertise, it is now within its jurisdiction. A little-known amendment tacked on to the Dodd-Frank financial reformrequires corporations to disclose whether they manufacture products using so-called conflict minerals from Congo or neighboring countries." Jaysus!