Just a shout-out to NPR Planet Money for sharing the rock ‘n roll reference in the Dodd financial reform proposal, or at least, Dodd’s summary of it. A “no escape” clause for companies seeking to evade supervision is called the Hotel California Provison. Yup, it’s right there in the text. We assume it’s referring to the line about how “you can check out any time you want…but you can never leave.” (although “we are all just prisoners here…of our own device” could also work).
Glad to know the people fighting the good fight for financial regulatory reform are totally cool folks. Now, whether they can get any bill passed is something else again.