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Almost a decade ago, the financial industry misbehaved, nearly causing a global financial meltdown. People list homes. 401k accounts vanished. Then, a law was passed to prevent that from ever happening again. Today, the House votes to kill Dodd-Frank. Now what?
House votes to kill Dodd-Frank. Now what?
Posted from money.cnn.com
Finance
Congress
Posted >1 y ago
Responses: 4
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SPC Steve Bright
This is false. While needing some restructuring on items like the volker rule, Dodd frank has strengthened our banking system.
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Capt Dwayne Conyers We Repeat the Same Mistakes of the Past. Learning and Thinking are frowned Upon by the Anti-Intellectuals in Congress Right Now.
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Look up the Glass Steagall Act from 1933. If it was left in place, the 2008 crisis may never have happened. Signed out of law by Clinton in 1999 and created the "too big to fail" concept. The Dodd-Frank was just a do over of Glass-Steagall.
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