How the tides have turned. A year ago, the big US banks lobby was focused on the amendment and/or total repeal of the Dodd-Frank financial reform law. They pushed for their bet, Republican presidential nominee Mitt Romney for the White House. They pushed for tactics that would delay the implementation of Dodd-Frank, such as filing lawsuits, hiring former regulators and other means to convince others that Dodd-Frank law was the devil himself.

Fortunately or unfortunately, depending on where you are seated, the smear and scare tactics failed.

Now, a new tune is beong played and it says that Dodd-Frank should be implemented.

On the surface it seems that it's a 180 degere turn bu tin reality, the move seeks to ensure that the industry retains its non transparent and unfair subsidies. 

This status quo won't remain for long, as new legislation, namely the Brown-Vitter legislation would be changing everything. It seeks to end the subsidies under the 'too big to fail' rhetoric that has pervaded in government. It also removes the unfair advantage big banks over small banks because of the subsidies. 

Thus, the democratization of business returns.