Redpill me on the Dodd-Frank Act. It's been five years.

bump.. anybody familiar with this?

>>1395084
So far so good. We won't really know until another recession hits.

>>1396116
are small, up and coming financial companies being effected though?

how does a start up afford the team of lawyers required to analyze it?

Also, do you know why republicans hate it so much, aside from just saying "DODD FRANK" to sound smart?

>>1395084
nice image...saw one similar posted in /ck/ years ago albeit with rabbit cages and more a coop for chickens than an arc...still neat though

Concerning the Dodd-Frank Act, not much to say really.

>>1395084
Depends on how you define "failed." If you consider a still-plummeting home-ownership rate, abysmal housing starts, banks switching to fee-heavy business models, constricted housing supply, and soaring rents to be failure, then yes, Dodd-Frank is a failure.

Dodd-Frank in a nutshell swung the pendulum of banking regulation from 'too little regulation' to 'overzealous regulation.' Banks currently have balance sheets bloated with cash because of it--cash which should and would otherwise be getting loaned out. Additionally, it's excessively restrictive in regards mortgage loans and the broader mortgage market so banks are lending for residential homes at dismal rates and typically to people who are well-off; so ordinary people who could otherwise handle a mortgage are prevented by the banks from attaining financing and building equity over time--instead they're forced into a position where they give their money to typically wealthy property owners through rent.

Honestly, Dodd-Frank should have been thrown out because of the names attached to the bill. Bother Chris Dodd and Barney Frank were active in blocking audits of Fannie and Freddie blocking attempts to slow or restrict lending.

Here's Mr. Frank in 2005:
https://www.youtube.com/watch?v=iW5qKYfqALE

Nothing has been done to fix the underlying problem, bad monetary policy. Big banks were punished when the real culprit was the Fed. George Bush said it best: wall street got drunk and now it's got a hangover. Well who's really to blame here? Wall Street for drinking the booze or the Fed for continuously pouring alcohol in their cups? Banks only wanna make money so you can't blame them for following microeconomic theory. The Fed is to blame for creating such a perverse incentive and moral hazard. If it weren't for the Fed 2008 wouldn't have happened the way it did.