Dodd-Frank---The Dodd-Frank Wall Street Reform and Consumer Protection Act
is legislation to be detailed and to kick in over time, designed to prevent
another Great Recession and enabling authorities to wind down an institution
without endangering the global economy[1]. Many time delay
requests surround the derivatives
market rules and the Volcker Rule part of the bill. US
financial agencies have collectively been
put in charge of writing the full
details of this bill. Global cooperation,
especially in the case of the
cross-border derivative market rules, will be
highly important in such a highly
connected global information economy. The
creators of the derivatives should have to retain more financial stakes in them
instead of throwing them around like hot potatoes. More "skin in the game" is
needed[2].
[1] Many thanks are in order to the crews of Bloomberg LP, CSPAN, CSPAN2, CSPAN3, the
Senator from CT-Christopher Dodd, RET, Congressman Barney Frank from
Massachusetts, RET and to Chairman Volcker (his suggestions were not exactly taken to
heart...and much lobbied against by the way)
[2] Thanks to the ever awesome Sheila Bair of the FDIC
is legislation to be detailed and to kick in over time, designed to prevent
another Great Recession and enabling authorities to wind down an institution
without endangering the global economy[1]. Many time delay
requests surround the derivatives
market rules and the Volcker Rule part of the bill. US
financial agencies have collectively been
put in charge of writing the full
details of this bill. Global cooperation,
especially in the case of the
cross-border derivative market rules, will be
highly important in such a highly
connected global information economy. The
creators of the derivatives should have to retain more financial stakes in them
instead of throwing them around like hot potatoes. More "skin in the game" is
needed[2].
[1] Many thanks are in order to the crews of Bloomberg LP, CSPAN, CSPAN2, CSPAN3, the
Senator from CT-Christopher Dodd, RET, Congressman Barney Frank from
Massachusetts, RET and to Chairman Volcker (his suggestions were not exactly taken to
heart...and much lobbied against by the way)
[2] Thanks to the ever awesome Sheila Bair of the FDIC