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The Dangers of Undoing Dodd-Frank

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The New Deal, set up an elaborate array of controls by the federal gov’t over the financial system!  Even on the verge of the 2008 crisis, few believed that a collapse of the entire system was possible. Dodd-Frank, by placing unregulated new markets under government supervision & by requiring big banks to behave less riskily, reversed the swing of the pendulum. There are lots of places to chip away at Dodd-Frank, until the changes add up to systemic risk. The most significant threat to the safeguards of Dodd-Frank would be to sharply lower the amount of capital that the biggest banks are required to hold in reserve. Doing so would make them—and the financial system as a whole—far more vulnerable in a moment of panic, when everybody wants to withdraw assets in a hurry. Such a move wouldn’t require congressional approval, just the assent of several agencies. And it could happen soon!

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Susan Lee Schwartz Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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