On a recent C-SPAN show, Richard Cordray, director of the federal Consumer Financial Protection Bureau, (CFPB) confirmed that the new federal agency that hasn’t done much in its first 14 months except expand an already bloated and wasteful government during a recession. The CFPB is the result of the 2010 Dodd-Frank Wall Street Reform…
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In his article in the Summer 2011 issue of The Independent Review, “The Dilemma of Bailouts,” economist Roy C. Smith (New York University) examines why despite its prohibition of taxpayer-funded bailouts, the Dodd-Frank Act has left the financial system exposed to meltdowns and promotes the shifting of risk from large “systemically important” financial firms…
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