We The People of Longview, TX

Without spending a single dime, the Obama administration did more yesterday to create jobs for the U.S. economy than it has throughout its entire existence. With the single stroke of a pen, President Barack Obama signed the Dodd-Frank financial regulation bill that set in motion 243 new formal rule-makings by 11 different federal agencies.

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The Dodd-Frank financial reform bill passed by the Senate yesterday promises to generate historic levels of red tape.  But apparently the 2,300 pages are so complicated that a debate has broken out over precisely how many new regulatory rule-makings it will require, says the Wall Street Journal. 

According to an analysis by the Davis Polk & Wardwell law firm: 

• At least 243 new federal rule-makings are on the way, not to mention 67 one-time studies and another 22 new periodic reports.
• The attorneys were careful to note that this was a low-ball estimate, counting only new regulations mandated by the bill. 

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