Perspectives on Dodd-Frank and Finance

In This Review

Perspectives on Dodd-Frank and Finance
Edited by Paul H. Schultz
The MIT Press, 2014
264 pp. $45.00

The 2008 financial crisis left governments all over the world scrambling to put in place better regulations. In the United States, the main result was the Dodd-Frank Wall Street Reform and Consumer Protection Act, a massive piece of legislation whose text runs to some 1,500 pages. It has proved difficult for everyone, including even the legislators who crafted the law, to understand what it says, much less comprehend all its ramifications. This useful volume examines the principal objectives of Dodd-Frank and its main provisions and also identifies some important things that were omitted from the law—some deliberately, others not. The book presents a fairly wide range of critiques of Dodd-Frank, some more sympathetic than others. It focuses exclusively on the United States, but developments there have had implications for other countries, given the interconnectivity of major financial institutions around the world.

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