Volcker should chair FSoc
While it is premature to write off the Dodd-Frank Act as a failure, mere passage of the legislation has not made the US financial system any safer.
Over time, if properly implemented, it might have some salutary effect. The bill sets up a large number of structures or frameworks, and innumerable study groups will be busy rule-making in at least 100 areas. It is a stew made by politicians and it all depends on how it is cooked and served up.
Passage enables politicians to claim victory. They can
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