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Ending Taxpayer-Funded Bailouts: Dodd–Frank Promises More Than It Can Deliver

In: DODD–FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT Purpose, Critique, Implementation Status and Policy Issues

Author

Listed:
  • Richard W. Fisher
  • Harvey Rosenblum

Abstract

Following every financial crisis, legislators promise voters “Never Again.” Yet financial crises seem to recur about every 15 years on average. Some crises are bigger than others, but they keep coming back in mutated forms, none exactly like their predecessors. In this sense, our political leaders have kept at least some of their promise to address the causes of “the last crisis.” Then financial markets, institutions and firms innovate, evolve and morph in ways that get around the best-intentioned legislation and the resulting regulations…

Suggested Citation

  • Richard W. Fisher & Harvey Rosenblum, 2014. "Ending Taxpayer-Funded Bailouts: Dodd–Frank Promises More Than It Can Deliver," World Scientific Book Chapters, in: Douglas D Evanoff & William F Moeller (ed.), DODD–FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT Purpose, Critique, Implementation Status and Policy Issues, chapter 12, pages 197-218, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814590044_0012
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    More about this item

    Keywords

    Dodd-Frank; Financial Regulation; Macroprudential Regulation; Systemic Risk; Volcker Rule; Resolution Authority; Consumer Protection; Central Clearinghouses (CCPs) ;
    All these keywords.

    JEL classification:

    • N2 - Economic History - - Financial Markets and Institutions
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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