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How Dodd-Frank Is Working—and How It Isn’t

Matt Kelly | June 1, 2015

Proof that Democrats were right about the Dodd-Frank Act: the law is working as intended.

Proof that Republicans were right about the Dodd-Frank Act: the law is not working as intended.

Unfortunately, both of those statements are correct at the same time, which means we have some delicate work in front of us to reform the Dodd-Frank Act this summer. All those confident Congress can manage such task, please raise your hand.

Yep, I’m sitting on my hands too.

Two business stories this week capture the Dodd-Frank dichotomy. First in the Wall Street Journal was news of General Electric putting the assets of its commercial lending operation up for sale. This is the part of Dodd-Frank that’s working. A financial business as large as GE Capital might pose systemic risks to the financial system, and in 2013 regulators deemed GE a...

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