Professor Thomas Cooley is quoted about the Dodd-Frank act
— May 15, 2017
Excerpt from Council on Foreign Relations -- "The Dodd-Frank Act grew out of a need to 'address this increasing propensity of the financial sector to put the entire system at risk and eventually to be bailed out at taxpayer expense,' said a 2011 report by New York University’s Stern School of Business. ... 'The Fed has a great deal more responsibility,' says Thomas Cooley, a professor at New York University’s Stern School of Business and one of the editors of the 2011 report. 'It is the primary watchdog for identifying systemically risky institutions of all types,' he explains."