Tag Archives: Kanjorski Amendment

Banking Under the Dodd-Frank Act

By Simon Johnson

President Obama’s signing of the financial reform bill yesterday does not end our intense debates over banking – rather it just moves them to a new sphere.  Instead of arguing about legislation, the next arena is the action (and perhaps inaction) of regulators.

Those pushing for more effective regulation of the financial system are looking for progress along three potential dimensions.  The first two – raising capital standards and appointing new regulators – are the most discussed, but powerful interests are blocking real change.  The third – tougher and smarter congressional oversight – holds great promise. Continue reading

The New Antitrust – For Banks

Just over a hundred years ago, the United States led the world in terms of rethinking how big business worked – and when the power of such firms should be constrained. In retrospect, the breakthrough legislation – not just for the US, but also internationally – was the Sherman Antitrust Act of 1890.

The Dodd-Frank Financial Reform Bill, which is about to pass the US Senate, does something similar – and long overdue – for banking.

[To read the rest of this post, click here – which takes you to Project Syndicate’s site; no fees or advertizing involved]