Did your dentist cause the Wall Street meltdown? Probably not, but at least one liberal Democrat fears that he might have federal regulators knocking at his door soon if Connecticut Sen. Chris Dodd’s financial reform bill passes.
Rep. Nydia Velázquez (D-N.Y.), chairwoman of the House Small Business Committee, told Dodd it was “more than likely” that small healthcare practices, including dentists and physicians, would fall under the scope of the new regulator. She noted a recent Federal Trade Commission (FTC) decision that dental and law practices were considered creditors as an example of regulators crafting broad interpretations.
Hedge funds, on the other hand, get a free ride.
