Opinion
Dodd-Frank: Five Years After
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So, how should you celebrate Dodd-Frank's fifth birthday? Perhaps by wishing - when you blow out the candles - that Congress will try do much better before we face the next crisis.
By Kim Schoenholtz and Stephen Cecchetti
On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (hereafter, DF), the most sweeping financial regulatory reform in the United States since the 1930s. DF explicitly aims to limit systemic risk, allow for the safe resolution of the largest intermediaries, submit risky nonbanks to greater scrutiny, and reform derivatives trading.
How to celebrate its fifth birthday? Well, if you are like us, it will be a sober affair, reflecting serious worries about the continued vulnerability of the financial system.
Let's have a look at the most noteworthy accomplishments and the biggest failings so far.
Read the full article as published by The Huffington Post
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Kim Schoenholtz is a Professor of Management Practice and Director of the Center for Global Economy and Business.
How to celebrate its fifth birthday? Well, if you are like us, it will be a sober affair, reflecting serious worries about the continued vulnerability of the financial system.
Let's have a look at the most noteworthy accomplishments and the biggest failings so far.
Read the full article as published by The Huffington Post
___
Kim Schoenholtz is a Professor of Management Practice and Director of the Center for Global Economy and Business.