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Legal Political Moral Hazard: Does The Dodd-Frank Act End Too Big To Fail?, Troy S. Brown
Legal Political Moral Hazard: Does The Dodd-Frank Act End Too Big To Fail?, Troy S. Brown
Troy S Brown
Abstract In the aftermath of the 2008 financial crisis, Senator Chris Dodd proposed the Restoring American Financial Stability Act of 2010 (the “Dodd-Frank Act”). The Dodd-Frank Act, the result of more than 18 months of negotiation and debate, aims to strengthen consumer protection, and regulate complex financial products. President Obama called the Dodd-Frank Act “the greatest overhaul of Wall Street since the Great Depression.” Among the many changes and hopes for the Dodd-Frank Act is that it will finally end the financial calamity, social unrest, and massive federal bailouts associated with the “too big to fail” concept. The “too big …