The Dodd-Frank Financial Fiasco

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This is an opinion item.

Author(s) John B. Taylor
Source The Wall Street Journal
Date July 1, 2010
URL http://online.wsj.com/article/SB10001424052748703426004575338732174405398.html
Quote
Quotes-start.png "Effectively the bill institutionalizes the harmful bailout process by giving the government more discretionary power to intervene. The FDIC does not have the capability to take over large, complex financial institutions without causing disruption, so such firms and their creditors are likely to be bailed out again. The problem of "too big to fail" remains, and any cozy relationship between certain large financial institutions and the government that existed before the crisis will continue." Quotes-end.png


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This item argues against the position Act should be passed on the topic Restoring American Financial Stability Act.