Dodd-Frank: The Good, The Bad, and The Ugly

The 2008 financial crisis left many people with no homes, jobs, or way of life.  It affected the economy more significantly than any crisis since the Great Depression.  Dodd-Frank was created in response to this catastrophe to assure that it would never happen again.  The law imposes regulation in nearly every aspect of the financial industry, covering investment and commercial banks, insurance companies, rating agencies, hedge funds, and many others.  With the implementation of Dodd-Frank, we must consider the costs and benefits of such a bill.  If there is too much regulation on  banks, for example, they will be less likely to lend, decreasing liquidity in our economy and leading to a lack of economic growth or even a recession.

It is important, therefore, to look at and analyze the regulations being implemented under Dodd-Frank to determine if they do a proper job of preventing another financial crisis, while still allowing banks to grow.  In my report, Dodd-Frank: The Good, The Bad, and The Ugly, I will assess the major regulatory provisions of the law and will offer my findings as to what rules work, what rules can be modified, and what rules should be eliminated to effectively and efficiently regulate the financial services industry.  I will also include recommendations as to how we should approach financial regulatory reform and how we can prevent another credit crisis like the one that occurred in 2008.

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