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December 5, 2012

July 17, 2012 – Senate Agriculture Committee hearing entitled "Dodd Frank Wall Street Reform and Consumer Protection Act: 2 years later."

In another of the many Congressional hearings called to observe the second anniversary of the passage of the Dodd/Frank Act, Chairwoman Stabenow was the first legislator to suggest that getting the regulations on the books may now be more pressing than other who urge further delay in the name of “getting them right”.

The first panel, comprised of CFTC Chairman Gensler and the SEC’s Director of the Division of Trading, did agree that a new push to finalize Dodd/Frank regulations was warranted.

Dennis Kelleher, the only non industry representative on the four person second panel, continued the theme he has expressed in testimony before other Congressional committees. He said much of the economic distress in today’s economy is still a result of the 2008 economic downturn and the Dodd/Frank Act was an appropriate public policy response which, once fully implemented, would go a long way in preventing a similar economic situation in the future.

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