Perspectives on Dodd-frank and Finance - Hardcover

Schultz, Paul H.; Spatt, Chester; White, Lawrence J.; Hoenig, Thomas; Kashyap, Anil K

Hardcover

ISBN 10: 0262028034 ISBN 13: 9780262028035

Publisher: MIT Press, 2014

Synopsis

Experts debate the possible consequences of the Dodd-Frank Act, discussing such topics as banking regulation, derivatives, the Volcker rule, and mortgage reform. The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed by Congress in 2010 largely in response to the financial crisis, created the Financial Stability Oversight Council and the Consumer Financial Protection Bureau; among other provisions, it limits proprietary trading by banks, changes the way swaps are traded, and curtails the use of credit ratings. The effects of Dodd-Frank remain a matter for speculation; more than half of the regulatory rulemaking called for in the bill has yet to be completed. In this book, experts on Dodd-Frank and financial regulation-academics, regulators, and practitioners-discuss the ways that the law is likely to succeed and the ways it is likely to come up short. Placing their discussion in the broader context of regulatory issues, the contributors consider banking reform; the regulation of derivatives; the Volcker Rule, and whether or not banks should be forced to stop proprietary trading; the establishment of the Consumer Financial Protection Bureau, and possible flaws in its conception; the law and "too-big-to-fail" institutions; mortgage reform, including qualification requirements and securitization; and new disclosure requirements regarding CEO compensation and conflict minerals. Contributors James R. Barth, Jeff Bloch, Mark A. Calabria, Charles W. Calomiris, Shane Corwin, Cem Demiroglu, John Dearie, Amy K. Edwards, Raymond P. H. Fishe, Priyank Gandhi, Thomas M. Hoenig, Christopher M. James, Anil K Kashyap, Robert McDonald, James Overdahl, Craig Pirrong, Matthew Richardson, Paul H. Schultz, David Skeel, Chester Spatt, Anjan Thakor, John Walsh, Lawrence J. White, Arthur Wilmarth, Todd J. Zywicki

About this title

Review:

This useful volume examines the principal objectives of Dodd-Frank and its main provisions and also identifies some important things that were omitted from the law--some deliberately, others not.

--Richard N. Cooper, Foreign Affairs

About the Author:

Paul H. Schultz is John and Maude Clarke Professor of Finance at the University of Notre Dame. Paul H. Schultz is John and Maude Clarke Professor of Finance at the University of Notre Dame. Lawrence J. White is Professor of Economics at the Graduate School of Business Administration at New York University. He has recently been appointed a Board Member of the Federal Home Loan Bank Board. Anil K Kashyap is Edward Eagle Brown Professor of Economics and Finance and Richard N. Rossett Faculty Fellow at the University of Chicago Booth School of Business. He is the coauthor of Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001). Anjan V. Thakor is the Edward J. Frey Professor of Banking and Finance at the University of Michigan Business School. James R. Barth is Lowder Eminent Scholar in Finance at Auburn University and Senior Finance Fellow at the Milken Institute.

About this edition

• Publisher: MIT Press
• Publication date: 2014
• ISBN 10: 0262028034
• ISBN 13: 9780262028035
• Binding: Hardcover
• Number of pages: 288