# Prof. Stephen Figlewski on changes to Dodd-Frank in the "CRomnibus" spending bill

1 Faculty News January 7, 2015 ![PolitiFact logo](/sites/default/files/styles/246w/public/assets/images/con_030740.jpg?itok=AksI8GU5)>

Excerpt from [PolitiFact](http://www.politifact.com/wisconsin/statements/2015/jan/07/mark-pocan/new-law-means-taxpayers-must-back-banks-incredibly/) -- "Only a small number of the derivatives deals could be considered 'incredibly risky,' \[[Figlewski](http://w4.stern.nyu.edu/faculty/bio/stephen-figlewski)\] told us, noting that because of other Dodd-Frank provisions, derivatives have become considerably less risky. And while it is true that taxpayers bear some risk, given that the government guarantees banks as a whole, the risk to taxpayers 'is much less than (Pocan) wants you to think,' Figlewski said."

[Read more](http://www.politifact.com/wisconsin/statements/2015/jan/07/mark-pocan/new-law-means-taxpayers-must-back-banks-incredibly/)