Dodd Frank Wall Street Reform
In 2008 there was a significant banking crisis that led to "the great recession," during which millions of people lost their homes, their jobs, and their standard of living. This disaster was caused by reckless behavior on Wall Street.
The federal government responded to this crisis by spending hundreds of billions of taxpayer dollars to bail out Wall Street. While the government rushed to save the big banks because "they were too big to fail," they did very little to hold Wall Street executives responsible for their illegal behavior, and not nearly enough to reform the banking system and prevent such a crisis from happening again. The Dodd-Frank Wall Street Reform and Consumer Protection Act did provide some very important regulations
The federal government responded to this crisis by spending hundreds of billions of taxpayer dollars to bail out Wall Street. While the government rushed to save the big banks because "they were too big to fail," they did very little to hold Wall Street executives responsible for their illegal behavior, and not nearly enough to reform the banking system and prevent such a crisis from happening again. The Dodd-Frank Wall Street Reform and Consumer Protection Act did provide some very important regulations