Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us


Dodd-Frank: The 848-Page Financial Firewall

The Dodd-Frank Wall Street Reform and Consumer Protection Act, aimed at improving the stability of the financial system, became law on July 21, 2010. It’s worked, but it’s also left holes some argue have made the system more vulnerable. Too Big To Fail banks live on, potentially more threatening to the financial system than ever. “Banks are way larger now than they were going into the crisis,” says Cornelius Hurley, director of the Center for Finance, Law & Policy at Boston University. “Despite hundreds of pages of law and thousands of pages of regulations, the system itself is not any safer, to the extent that it’s at the mercy of six clearly too-big-to-fail banks.”

Dodd-Frank is maddeningly complex, and many of the key rules haven’t even been finalized. On the positive side, regulators are more aware of the threat of systemic risk, consumers have an agency looking out for their interests, and banks are better capitalized and more limited in the risks they can take. Dodd-Frank is a step forward, not a giant leap. Says Michael Greenberger, a former director at the Commodity Futures Trading Commission: “The scheme may not be perfect, but there is a lot in there that ends irresponsible, undercapitalized bets.”

Graphic by Bloomberg Businessweek
Kolhatkar is a features editor and national correspondent for Bloomberg Businessweek. Follow her on Twitter @Sheelahk.

Weise is a reporter for Bloomberg Businessweek in Seattle. Follow her on Twitter @kyweise.

blog comments powered by Disqus