Edmund Andrews Gives Thumbs Up to Dodd-Frank

Andrews:

Barney Frank and Chris Dodd put the ball over the line: [Mmy quick take is that the reformers held up amazingly well in the face of massive lobbying from banks, non-banks, Wall Street, hedge funds and the rest of the financial services industry. The bill would give the government new power to oversee systemic risk and to shut down giant failing institutions (another AIG) in an orderly way. It includes a surprisingly strong “Volcker Rule,’’ which almost prohibits banks, with...