Senator Chris Dodd (D-CT) is finally ready with new financial regulation. However, before you get your hopes too high… according to him, it “will not stop the next crisis from coming.” Instead, his plan is more to establish a new “watchdog” and when it’s on duty, “we need to strengthen not only its bark, but also its bite.”

Basically, the plan took two years to create, and it already sounds like a new mess in the making. Who better to parse out the key facts than Jon Stewart in a clip we found on The Big Picture, below.

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Jon Stewart Dissects Senator Dodd’s New Watchdog originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

This story originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day.

Read the original story at The Daily Reckoning