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Dodd-Frank needs to be amended to stop another meltdown - The Hill's Congress Blog
Dodd-Frank needs to be amended to stop another meltdown - The Hill's Congress Blog
It is clear to me that Dodd-Frank, however good its intentions, has
not and will not protect us against another meltdown. Solutions such as
reinstating Glass Steagall or enacting Brown Kaufman are clearly
available and desperately needed. As we read more in the next few weeks
about the unfolding LIBOR scandal or some inevitable new outrage about a
rigged and dangerous financial system, perhaps enough people will begin
to demand the kind of decisive legislative action I fought for back in
2010. Until then, I am really afraid we as a society are behaving much
like the guy in the old joke who falls from the 90th floor. As he passes
the 50th, someone looks out the window and asks how he is doing.
The punch line: “Just fine so far.”
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