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Dodd Frank Act Essay

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Dodd Frank Act Essay
The Dodd Frank Act
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What the Dodd Frank Act Is
The Dodd-Frank Wall Street Reform, better known as the financial bill, was signed by President Obama on July 21, 2010. The Act was basically passed to possibly prevent another 2008 financial crisis from occurring. It provides significant changes to the structure of federal financial regulation and new requirements that apply to market assistants. Due to this there are many acquisitions that can occur.
The Act has made a huge changes in our financial system. For example, bringing together all the agencies and trying to identify any risks that may be rising in our financial system. However, one main problem that happened before the recent crisis was there wasn’t any one in charge who specifically looked at the system as a whole. Since then, regulators have been trying to identify risks that might be rising as the economy changes and the financial system changes going forward.
But passing the law is only the first step; it far from being whole. The regulators have to implement these laws which mean they must arrange important rules and regulations that will make financial firms solid. The act regulates many different kinds of risks, but does not control the overall demand for risk between financial institutions or deal with advantages and issues. After the huge financial crisis, we needed a change and needed something that was going to work fast, be extremely efficient and help our economy get back on the right path. The Dodd Frank Act has been very beneficial and will hopefully continue to keep improving throughout the next couple of years to get our economy the way it used to be. If we experience another horrible crisis it will be devastating, but if we have the right tools and a good head on our shoulders we might just be able to push through it smoothly.
What the Dodd Frank Act does
So what does the Dodd Frank Act actually do? A majority of people believe that the results of this Act have


References: David Enrich, & Laura Stevens. (2012, March 22). Deutsche Avoids Dodd-Frank Rule --- German Bank Restructures U.S. Unit to Avoid New Capital Requirements; Regulators Don 't Object. Wall Street Journal (Eastern Edition), p. C.1. Victoria McGrane. (2012, April 4). Global Finance: Process Set for 'Systemic ' Label. Wall Street Journal (Eastern Edition), p. C.3. Retrieved April 30, 2012, from ABI/INFORM Global. (Document ID: 2625225061). Jean Eaglesham. (2011, July 20). Dodd-Frank: A Year Later: Atlas Shrugged; Will Regulators? Wall Street Journal (Eastern Edition), p. C.1. Retrieved April 30, 2012, from ABI/INFORM Global. (Document ID: 2402279731). Christopher J. Dodd. “Five myths about Dodd-Frank.” The Washington Post. Published: October 21, 2011. < http://www.washingtonpost.com/opinions/five-myths-about-the-dodd-frank-financial-regulations/2011/10/19/gIQAtq7j4L_story.html> Jesse Eisinger and Jake Bernstein. “From Dodd-Frank to Dud: How Financial Reform May Be Going Wrong.” Wall Street Journal. Publish: June 3, 2011, 9:16 a.m. <http://www.propublica.org/article/from-dodd-frank-to-dud> Viral Acharya and Matthew Richardson. “The Dodd-Frank Act, systemic risk and capital requirements.” The Washinton Post. Published: October 2011. < http://www.voxeu.org/index.php?q=node/7126> Victoria McGrane, & Deborah Solomon. (2011, July 21). Debating Dodd-Frank. Wall Street Journal (Eastern Edition), p. C.2. Retrieved April 30, 2012, from ABI/INFORM Global. (Document ID: 2403490071). “Too big not to fail.” The Economist. Published: Febuary 2012. New York. < http://www.economist.com/node/21547784> “Briefing Report: The Dodd-Frank Act and the Consumer Financial Protection Bureau.” Republican Caucus. Published: May 25, 2011. California. <http://www.cssrc.us/publications.Aspx?id=10786>
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