HKS Affiliated Authors

Excerpt

Dodd-Frank's panic problem. Hal Scott. August 5, 2013. Opinion. "Last week, writing in POLITICO, former members of Congress Chris Dodd and Barney Frank touted the fact that the legislation that bears their names now forbids using public funding to keep failing banks in business. “The U.S. federal government now has the power to terminate the lives of large, heavily indebted financial institutions,” they boasted. Ironically, however, Dodd-Frank has made it more likely that the taxpayers will need to rescue firms, because their statute has left us less able to fight contagion..." Link verified June 19, 2014