The Heritage Foundation picks apart the Dodd bill:

Unfortunately, if this ploy succeeds, the result would be an all-powerful bureaucracy that would do little to address the real problems in the industry and actually make future crises—and bailouts—more likely. The first step has already been taken after the Senate Banking Committee amended the 1,336-page original text with a 114-page manager’s amendment and sent the bill to the full Senate after a 22-minute markup on March 22.