Our Economic Times: Dodd-Frank on its Way Out?

Document Type

News Article

Publication Date

1-31-2015

Publication Title

Savannah Morning News

Abstract

This column was published in Savannah Morning News.

Either we have forgotten which sector of the economy brought global markets to their knees in 2008, or we have succumbed to a disastrously distorted incentive structure within the political sphere. Six years after bets gone bad at the largest financial institutions catalyzed the Great Recession in the U.S. (and abroad), policymakers have taken yet another step to gut the once spirited landmark legislation known as the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Less than two weeks into their 2015 tenure, Congress took steps to weaken the act, once thought to be a critical piece of financial market legislation aimed at avoiding future financial panic and the possibility that U...

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