Dodd-Frank Fails To Meet Test Of Our Times
By Alan Greenspan
Published: March 29 2011 FT
The US regulatory agencies will in the coming months be bedevilled by unanticipated adverse outcomes as they translate the Dodd-Frank Act's broad set of principles into a couple of hundred detailed regulations. The act's underlying premise is that much of what occurred in the market place leading up to the Lehman Brothers bankruptcy was excess (hardly controversial) and that its causes would be readily addressed by this wide-ranging statute (questionable).
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