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May 14, 2015

Dodd-Frank Supporters Argue Safer Financial System Justifies Cost of Regulation

Few policy debates make the average American’s eyes glaze over faster than the debate over the costs and benefits of the 2010 Dodd-Frank law. But few debates rile up lawmakers and wonks more.

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“Focusing on claimed costs of regulation to prevent another financial crash ignores the massive and very expensive costs of such crashes,” said Dennis Kelleher, the president and CEO of Better Markets, a Washington advocacy group that did its own study on financial-crisis costs and pegged the number at $12.8 trillion. “The country cannot afford not to fully regulate finance and prevent future financial crashes.”

Read the full Wall Street Journal article by Kate Davidson here.

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