Our Economic Times: Big Banks Fail Dodd-Frank

Document Type

News Article

Publication Date

8-19-2014

Publication Title

Savannah Morning News

Abstract

This column was published in Savannah Morning News.

Two weeks ago, the U.S. Treasury Department, in a report released by the Government Accountability Office (GAO), assuaged policy-maker and taxpayer concerns that a repeat big-bank bailout would not be a necessary damage control tool in the face of future financial duress. The study claimed that safeguards associated with the Dodd-Frank Act of 2010 have succeeded in diminishing the advantages from which big banks benefitted during the crisis relative to their smaller-sized counterparts. The findings even led treasury undersecretary Mary Miller to state, “We believe these results reflect increased market recognition of what should now be evident - Dodd-Frank ended ‘too big to fail’ as a matter of law...

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