Copyrighted Image? DMCA | Wall Street favors the G.O.P. And the Republicans who came to power this year are returning the favor by trying to kill Dodd-Frank, the financial reform enacted in 2010....Because it's working.... the Consumer Financial Protection Bureau is, by all accounts, having a major chilling effect on abusive lending practices. And early indications are that enhanced regulation of financial derivatives -- which played a major role in the 2008 crisis -- is having similar effects, increasing transparency and reducing the profits of middlemen. As for 'too big to fail: What was really lethal was the interaction between size and complexity. Financial institutions had become chimeras: part bank, part hedge fund, part insurance company....This complexity let them evade regulation, yet be rescued from the consequences when their bets went bad...Dodd-Frank addressed this problem.. |
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At www.nytimes.com
At www.nytimes.com
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