“This is the second in an 11-part series on the failed promises of the Dodd-Frank financial reform package and the continued, dangerous imbalances in our financial system. For part 1, click here.

“There were lots of heated debates before passage of Dodd-Frank, but no disagreement from anyone in the administration or Congress about one thing. The bill had to end the possibility that American taxpayers would ever again have to bail out a big bank because its failure would have a severe impact on the entire economy.

“Some of us argued at the time that Dodd-Frank’s solution to the TBTF problem would never work in the real world. Others thought it would. But three years later, there is a growing consensus across ideological lines that TBTF is still very much with us.”

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Read Ted Kaufman’s full Forbes Op Ed here