[Karen37a]

Yes it does.

And my main point has always been ( and I may be wrong but I doubt it ), that every time regulation steps in...Financial industry, stock-market /securities...Mortgage industry; when they force it, it brings a myriad of new problems with it, problems that people do not foresee. The main one being compliance and extra compliance and extra extra compliance, then compliance for compliance.

This forces the small players to merge in with the large ones because they can not have a dept on the second floor dedicated to it, nor can they bear the expense, or want to.So when people think the market will open up to less competition because the seedy brokers get out, thats partially true, but it also creates a monopolistic effect where you have to join the big boys club or you cant survive, or you have to have inside connections or extreme knowledge or deep pockets. Then compensation gets cut to the loyal ones on the inside, thats fun to watch and some of the big boys shut down .

Its like watching a movie but its live