In the Dodd-Frank financial reform Act of 2010, financial firms in the U.S. are required to set aside higher reserves to cover losses on
trades of securities, including those that “swap” the risk of
default of a given security, such as bonds based on subprime mortgages. Almost immediately, the Wall Street bankers set about minimizing the new hindrance.
The full essay is at "Undermining the Dodd-Frank Act."
The full essay is at "Undermining the Dodd-Frank Act."