Origin Story of Dodd Frank Act | On This Day

All right, let's take a look back in history to the year 2010 when the US Senate passed the biggest overhaul of financial regulations since the Great Depression. The DoddFrank Act, a top-to-bottom rewrite of rules governing Wall Street firms, was ostensibly intended to prevent a repeat of the economic calamity from the 2008 credit crisis that failed Lehman, Bear Sterns, and Washington Mutual. The bill at its core created a mechanism for liquidating failing financial firms, created a council of watchd dogs t ...