[Occupymendocino] Beyond Dodd-Frank

[Mark Safron]

For federal regulators, the Dodd-Frank Act (DFA) of 2010 resembles an earthquake so massive that its aftershocks threaten to go on forever. The overarching purpose of this legislation is to end the perception that very large financial organizations can and do make themselves economically, politically, and administratively so difficult to fail and unwind that their liabilities implicitly enjoy near perfect government guarantees.
 
Has the legislation had the intended effect? “No" is the definitive answer provided by Edward Kane, a professor of Finance at Boston College, and a longstanding critic of the direction which financial reform has taken since the collapse of Lehman.
Full story: http://ineteconomics.org/new-economic-thinking/edward-kane-beyond-dodd-frank

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