In other words, Dodd-Frank is good for JPMorgan and bad for smaller competitors.
As I have pointed out many times, the crony capitalists use regulations to prevent upstarts from gaining a foothold. It is one of the reasons that the economy has a sluggish feel to it.
Veronique De Rugy comments:
Real job growth comes not from people dreaming of being small but from entrepreneurs committed to building large and sustainable companies. This shouldn’t be news. A seminal 1987 study by David L. Birch, a former MIT researcher, explained that small-firm job creation occurs within a relatively few firms, the ones he calls “gazelles.” Gazelles are high-growth entrepreneurial companies that start small and quickly grow larger.It is precisely these kinds of firms that are most damaged by regulation. They just don't operate with the economies of scale that would allow them to afford the legal staff to deal with regulations, the way entrenched players do. Thus, the stunting of their growth and recent MBAs considering the second best alternative, management jobs at Chipolte. The only exceptions are firms in emerging sectors where there are no entrenched firms encouraging regulation.