Regulating Wall Street: Exploring the Political Economy of the Possible

Gerald Epstein and Robert Pollin

Chapter 15 in Microeconomics, Macroeconomics and Economic Policy, 2011, pp 268-285 from Palgrave Macmillan

Abstract: Abstract US President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act in July 2010. Dodd-Frank is the most ambitious measure aimed at regulating US financial markets since the Glass-Steagall Act was implemented in the midst of the 1930s Depression. However, it remains an open question whether or not Dodd-Frank is capable of controlling the wide variety of hyperspeculative practices that produced the near total global financial collapse of 2008–09, which in turn brought the global economy to its knees, with the Great Recession.

Keywords: Rating Agency; Hedge Fund; Credit Default Swap; Private Agency; Financial Liberalization (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-31375-0_15

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DOI: 10.1057/9780230313750_15

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