Congress handed regulators a secret weapon in the 2010 Dodd-Frank financial reform, an emergency extinguisher encased in a container reading “in case of fire, break glass.” Even the architects of the reform likely figured nobody would ever use it. But the fire is still burning, and we’re getting to the point where regulators will have to decide whether to smash that glass.
I’m talking about breaking up the big banks, and the secret here is that regulators can do it without needing additional authority.
ongress handed regulators a secret weapon in the 2010 Dodd-Frank financial reform, an emergency extinguisher encased in a container reading “in case of fire, break glass.” Even the architects of the reform likely figured nobody would ever use it. But the fire is still burning, and we’re getting to the point where regulators will have to decide whether to smash that glass.
I’m talking about breaking up the big banks, and the secret here is that regulators can do it without needing additional authority.
- See more at: http://www.thefiscaltimes.com/Columns/2014/08/08/Here-s-How-Ensure-Big-Banks-Don-t-Need-Another-Bailout#sthash.lBgwWlz5.dpuf