“One of the reasons the impending D.C. Circuit confirmation battles are so important is that the court has played, and will continue to play, a big role in Dodd-Frank implementation. The court has jurisdiction over a wide variety of regulatory agency decisions, and as Haley Sweetland Edwards at the Washington Monthly has explained, it’s already used that power to weaken trading restrictions that Dodd-Frank authorized.
That, and other hurdles that regulators have had to jump through, have added up to a bill that’s far behind where it should be implementation-wise. Taegan Goddard points to a remarkable series of charts by Frank Pompa and Denny Gainer at USA Today illustrating just how far behind Dodd-Frank is. Only 153 (38.4 percent) of the 398 required rules in the bill have been finalized. That’s despite the fact that 70.1 percent were supposed to be finalized by this past Monday.
What happened to the other 245 rules? Well, 117 have been proposed but not finalized. But 128 haven’t even been proposed yet. More concerning still, regulations around banking, asset-backed securities, and “liquidation authority” — perhaps the regulations most directly related to the causes of the 2007-08 crisis and bailout — are particularly slow in being implemented.”
Read the full Washington Post article here