“Better Markets’ Dennis Kelleher in the Huffington Post: “The critics of the financial reform Dodd-Frank Act are fond of saying that it doesn’t work — some going so far as to say that the financial system is just as much at risk as it was in 2008, if not even more so. … But now, there is stress and distress in the global economy and financial systems. In many ways, we are witnessing a live real-time test of the new financial rules.”
“Investors are spooked by plunging oil prices and significant stock market volatility, often in the same day. Market analysts and pundits are competing with each other to identify the ‘next financial crisis’ … Yet there is one obvious suspect that no one is pointing to: the too-big-to-fail systemically important financial institutions that are based in the United States … Currently, there are no runs on these institutions. Their bondholders do not seem to be particularly worried that they will lose money.”
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