The New Yorker: The dangers of undoing Dodd-Frank
The New Yorker, May 7, 2018: The dangers of undoing Dodd-Frank
We are fast approaching the tenth anniversary of the worst financial crisis since the Great Depression. What passes for the official date is September 15th, the day that Lehman Brothers collapsed, but the crisis was under way months earlier, and the commemorative reëvaluations have already begun in the business press. The obvious question to ask is whether the financial markets, which have risen for most of the past decade but have been alarmingly shaky of late, could crash again. The answer largely depends on whether the Trump Administration undoes the best protection that we have against such an event: the Dodd-Frank law, which was passed in 2010, in response to the crash, after thirty years of financial deregulation.