The good, the bad, and the scary of Washington's attempt to reform Wall Street.
The Dodd-Frank Wall Street Reform and Consumer Protection Act is Washington's response to America's call for a new regulatory framework for the 21st century. In The New Financial Deal, author David Skeel offers an in-depth look at the new financial reforms and questions whether they will bring more effective regulation of contemporary finance or simply cement the partnership between government and the largest banks. This book:
To understand what American financial life is likely to look like in five, 10, or 20 years, and how regulators will respond to the next crisis, we need to understand Dodd-Frank. The New Financial Deal provides that understanding, breaking down both what Dodd-Frank says and what it all means.
©2011 David Skeel (P)2012 Adam Levison
I am satisfied this author has had a good look at this law, as well as its surrounding players, history and influences. He makes a very accessible summary of all these things. I don't have to agree with every opinion, to acknowledge he has done interested persons a service. A person who followed the whole story systematically in the press, and did some good long thinking, might arrive at similar knowledge. But I am happy to pay Mr Skeel to do so much of the heavy lifting. Of course, the story is unfolding as I write this, not least in the substantial additional regulations under consideration.
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