Posted on 07/20/2015 12:47:08 PM PDT by Timber Rattler
Tuesday will mark five years since President Obama’s signing of the Dodd-Frank law, the most sweeping rewrite of the country’s financial laws since the New Deal. Mr. Obama told the country that the legislation would “lift our economy.” The statute itself declared that it would “end too big to fail” and “promote financial stability.”
None of that has come to pass. Too-big-to-fail institutions have not disappeared. Big banks are bigger, small banks are fewer, and the financial system is less stable. Meanwhile, the economy remains in the doldrums.
Dodd-Frank was based on the premise that the financial crisis was the result of deregulation. Yet George Mason University’s Mercatus Center reports that regulatory restrictions on financial services grew every year between 1999-2008. It wasn’t deregulation that caused the crisis, it was dumb regulation.
(Excerpt) Read more at wsj.com ...
We’ll be bailing out the biggest banks again. And again. And again.
Now he’s going to try it in order to ‘block bust’ neighborhoods. God Save the Republic!
Dodd Frank first, then Sarbannes-Oxley
UNEXPECTED! Hey I’m the first! I think my liver is beginning to swell.
Democrats Manipulate.
Hey, here's a good idea:
Bring back Glass-Steagall.
The banksters don’t want Glass-Steagall, so it won’t be coming back.
The link you posted sends one to the article behind the WSJ paywall.
Here’s a link that’s not paywalled:
http://www.wsj.com/articles/after-five-years-dodd-frank-is-a-failure-1437342607
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