The Wall Street Journal sat down with the creators of Dodd-Frank for the five-year anniversary of the regulation.
But despite the talk from the industry, the legislation’s sponsors, former Sen. Christopher Dodd, D-Conn., and former U.S. Rep. Barney Frank, D-Mass., each view the regulation and its effects as pretty positive.
One major question the WSJ asked was, “How effective do you think the law has been in making the financial system safer?”
Considerably. … Go back to the Republicans’ fulmination that we were going to cripple the American economy, that we were going to wound our financial institutions. None of those are true. The American economy has been better than any other economy. The financial institutions are doing fine.
Check out the article for answers to questions like, “Do you feel confident that you can declare ‘too big to fail’ dead?” and “If there’s one thing you could go back and change in the law what would it be?”
Dodd-Frank isn’t the only thing celebrating an anniversary in D.C. right now.
Keep an eye on HousingWire on Tuesday, as we’ll take a look at some of the CFPB’s greatest hits (and greatest misses) in its four-year history.