CHIP SOMODEVILLA/GETTY IMAGES
OBAMA 2.O / FINANCIAL REFORM
wish it would just disappear, and
they have been working with bank
lobbyists to kill it, or at least water it down as much as they can.
If he accomplishes nothing else
on financial reform in his second
term, Obama at least needs to
keep fighting to preserve DoddFrank, these advocates said.
“Protecting what we have is
first and foremost,” said Bair.
Bair is hopeful that Obama and
the Democratic senators who created Dodd-Frank have a strong
incentive to preserve it. Others
see Obama’s attention wandering and worry the banks have an
even stronger incentive to neuter
the law.
Two: Finish the Rules Already
Congress passed the buck on putting Dodd-Frank’s rules into effect to various regulatory agencies, where they have often gotten
bogged down for one reason or
another. According to a recent
HUFFINGTON
01.27.13
House
Financial
Services
Committee
Chairman
Spencer
Bachus lifts
copies of
what he calls
the “rules”
section of
Dodd-Frank
during a news
conference to
discuss the
bill’s impact.