Quote
samintx
I also know who screwed up the housing with the Frank/Dodd bill.

Quote
swampy
Interesting how the Frank/Dodd bill did nothing to prevent Morgan Stanley's recent $2+B screw up.

Quote

The Senate Banking Committee was the flash point for the debate yesterday, as Democrats and the chairman of the Commodity Futures Trading Commission used the losses to argue for the strict implementation of the 2010 Dodd-Frank Act rules, including a ban on proprietary trading by banks. That argument may shift to lawmakers and regulators pushing to go beyond President Barack Obama’s financial regulatory overhaul.
“In the short run, pressure is on regulators to at least look tough in implementing the Volcker Rule,” Brian Gardner, senior vice president at investment bank Keefe Bruyette & Woods Inc., said. “Over longer run, I believe the bigger impact will be on the move to break up or downsize the largest banks.”
JPMorgan’s May 10 disclosure of losses tied to structured derivatives products came at a key point in the debate over the future of the Dodd-Frank Act. Agencies including the CFTC and Securities and Exchange Commission are still in the process of writing and implementing some of the most controversial rules required by the law.
Senate Banking Committee Chairman Tim Johnson said the losses bolster the case for the regulations included in the Dodd-Frank Act and serves as a “wake up call for many opponents” of the law’s provisions.