Monday, April 15, 2013
VIDEO "Konczal: Dodd-Frank Reforms Get Roughed Up in Court"
Mike Konczal, fellow at the Roosevelt Institute and contributor to Bloomberg View, talks with Bloomberg Law’s Lee Pacchia about how the implementation of the financial reform laws in Dodd-Frank have been hampered by a series of adverse court decisions. Konczal contends that these decisions are not only a setback for proponents of reforming the financial industry, but also have a chilling effect on future efforts by regulators and lawmakers. At the same time, however, Konczal feels that these courthouse victories could end up harming the finance industry. “If it looks like the law is unable to do what it needs to you will see reformers come back with much harsher provisions…that the banks successful avoided the first time around,” he says.
Video here:
http://www.ritholtz.com/blog/2013/04/konczal-dodd-frank-reforms-get-roughed-up-in-court/
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I thought Blinder did a brilliant job of describing the politics of Dodd-Frank without blaming participants. But if you can't regulate, than the world is held hostage. But too much regulation, and again the world is held hostage. Goldilocks and the Three Bears comes to mind.
ReplyDeleteThe lack of blame was an intriguing aspect. Peoples view on regulation depends a lot on whether they're on the left or right side. But I agree that there should be a balance in it.
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